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UK's energy capital hit by US shale gas

London: LNG shipments have fallen 45% at the Port of Milford Haven as worldwide LNG flows continue to shift.

There were 128 LNG shipments at the port in 2011 and 71 in 2012, roughly 18.3m gt 11m gt respectively in terms of tonnage.

The drop in LNG shipments contributed to 50% fall in net profit at the Britain's third largest port and main energy harbour to £4.2m ($6.4m) for 2012, down from £8.1m in 2011.

The 2011 Japanese tsunami's influence on global energy markets and the advent of shale gas in the US left coal as a more attractive fuel for power generation in the UK than LNG, according to the port.

The port's chairman David Benson commented "the port will always be susceptible to energy market fluctuations which is why we are continuing to diversify and make the most of opportunities for investment in activities more within our control."

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