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U.S. efforts reduce delivery costs of LNG to Krk terminal

Efforts by the United States have reduced delivery costs of liquefied natural gas (LNG) to a terminal planned off the coast of Croatia, making the gas competitive with pipeline deliveries, the U.S. Ambassador to Hungary said in an interview with independent news website

Ambassador David B. Cornstein said he had recently learned that the scale of the cut in delivery costs was of such a degree that the LNG would be no more expensive than gas delivered by pipeline.

As the Budapest Business Journal reported earlier, Hungary has offered to buy a 25% stake in the LNG terminal on the Croatian coast, but only if it can acquire gas from the terminal at a competitive price. Buying gas from the terminal would help Hungary, now strongly dependent on Russian gas, to diversify its energy supply.

Regarding the Black Sea gas project, also aiming to counter the dominance of Russia in gas exports, Cornstein said: “I’m convinced that Romanian gas is the most important and plays the biggest role in diversification, and that if the extraction starts, it would change the atmosphere in Hungary and around Central Europe.”

Commenting on the meeting between Prime Minister Viktor Orbán and U.S. President Donald Trump at the White House on Monday, Cornstein told the two sides had discussed immigration, arms purchases and expanding trade ties, but without going into details. He added that the most important thing was establishing the ties necessary to advance these matters further.

According to the ambassador, Trump told Orbán that they are similar in a political sense. “You know, it’s like we’re twins! Not everybody might agree or like us, but look at the results that we’re getting,” Trump reportedly told Orbán.

The full interview can be linked to in English here.