sines port

US Energy Chief Sees Potential Investment in Sines Port

  • sines port
    February 25, 2020
    The U.S. government is observing an Atlantic port in Portugal as a springboard for expansion and an increased presence in Europe

    American companies have a strong interest in expanding Portugal’s deepwater port of Sines due to its strategic position for liquefied natural gas (LNG) exports to Europe, U.S. Energy Secretary Dan Brouillette said.

    The expansion of Sines port’s container and liquefied natural gas terminals present “an enormous opportunity for U.S. industry, as well as the government”, the U.S. Energy Secretary, told The Associated Press.

    “This is the closest (European) port to the U.S. It is a very unique and strategic point for us and a very good part of the economics of natural gas,” Brouillette said during a visit to Sines.

    “This port serves as an important gateway to Europe. We are excited to see its development.”

    However, U.S. companies may face competition from Chinese, which have expressed interest in expanding the port, according to Portuguese newspaper Publico.

    Another probable competitor is Russia, that supplies some countries in Europe through Gazprom.

    Sines received the first U.S. shipment of LNG to Europe, in 2016. The Portuguese government would like to act as a conduit for American LNG through a gas pipeline from Sines to the rest of Europe.

     

    Sources: The New York Time, Hellenics Shipping News