European countries have increased their imports of US gas after Russian gas supplies were cut off. The energy product in question — liquefied natural gas, or LNG — can initially be purchased relatively cheaply. That’s no longer the case, says Texas LNG company Tellurian. The increased US LNG price is a coincidental development that has not escaped the German economy minister. “Of course this brings up problems that we have to talk about,” Robert Habeck told a regional German newspaper. NOZ.
Why is this important?
America has LNG Supply to the Old Continent The latter increased in order to meet its winter gas savings targets. For example, the world’s largest economy will become the world’s largest LNG exporter in the first half of 2022, according to the US Department of Energy. US gas exports accounted for more than 70 percent of European imports in the year to September.Even as the continent grapples with a real energy crisis, Europe can no longer rely on cheap natural gas imports from the US. Charif Souki, co-founder of Texas-based LNG company Tellurian, cautioned against this. London Energy Conference Earlier this week.
Countries looking to replace gas supplies cut off by Russia will see LNG traffic double, according to Tellurian’s executive chairman, Chouqi. And inside
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