Natural gas consumption in the 28-nation European Union grew by some 4% last year to 426.3bn m3, according to latest estimates from Eurogas, the trade association representing 43 gas wholesale and distribution companies.

Germany consumed 5% more gas and its imports were 13% higher than in 2014. But the surprising statistic is that its 2015 exports of gas grew by 35% year-on-year to top 30bn m3.

It says that two thirds of the gas will flow towards the Central European Gas Hub in Baumgarten, Austria. “This hub offers ideal connectivity and can handle large flows to central, east, southeast and south European countries, boosting their gas markets to comparable levels of liquidity and competiveness as in northwest Europe.”

Europe and Russia are each trying to diversify—the first by getting more gas suppliers, and the second by trying to sell more gas to China and East Asia.

Europe’s leaders have long been hoping that U.S. shale gas would help the bloc reduce its reliance on gas from Russia, which provides around a third of the region’s supplies. The ethane from Ineos’s shipment won’t be a substitute for Russian gas, which is mostly methane, but it will help to lower prices in the European market, said Karen Sund, partner at Norway-based Sund Energy consultancy.

Revenue during the year fell by 20.9% to $1,668.8 million (2014: $2,110.9 million) reflecting activity reductions as spending by our customers has reduced, pricing pressures, reduced spend on reimbursable type contracts and changes in mix between our business units. EBITDA decreased by 7.9% to $289.8 million over the same period as the impact of these lower revenues was offset by significant reductions made to our cost base.

“The US has sought to work with Europe to lessen Europe's dependence on Russian energy and, particularly, gas supplies to weaken Russian leverage to use that gas supply for political purposes and has enjoyed some success, and this has been a cooperative venture. Three administrations working in the same direction, many of the same assumptions and people.”

Goods exports decreased to $1,513.5 billion from $1,632.6 billion, the first decrease since 2009. The largest decrease—which accounted for more than two-thirds of the total decrease in goods exports—was in industrial supplies and materials. The decrease was mainly due to a decrease in petroleum and products.

Looking at the outcome of the sensitivities Mr Tomnay offers in closing: “Russia's export strategy will be a key determinant of US LNG export capacity utilisation, but the Russian pursuit of European market share to drive out US LNG from Europe seems either uneconomic and/or impractical under different external conditions. Instead other factors such as the price of US gas, oil and European coal prices will likely be greater determinants of US LNG export capacity utilisation. Subject to these factors alone, average utilisation of US LNG export capacity between 2017-20 could vary from 54-100%. For US LNG exporters, the best thing to happen would be for global coal prices to rise, or for US gas prices to stay low."

The suppliers were chosen after a tender award. The tender covers 2,500 km of large-diameter pipes with a total weight of roughly 2.2mn metric tons. In an announcement on March 11, the consortium said that it had chosen three firms for the supply: Germany-based Europipe for 40% of the required steel pipes; Russia's United Metallurgical Company (OMK) for 33%; and Russian firm Chelyabinsk Pipe-Rolling Plant (Chelpipe) for the remaining 27%.