In the first four months of the year, the U.S. exported 11.5-billion cu ft/day of gas in the form of LNG, three-quarters of which went to Europe.
The EQT, one of the largest Shale Gas producers in the US, has taken European officials from countries including Poland, Hungary, Greece, and the Netherlands deep into the shale gas heartlands to discuss the Energy Crisis and Shale Gas exports. As Europe is trying to cut off Russian gas supplies in the wake of the conflict with Ukraine, proponents of the U.S. gas industry see a huge opportunity for their LNG exports to plug the gap.
In the first four months of the year, the country exported 11.5-billion cu ft/day of gas in the form of LNG, three-quarters of which went to Europe. In a deal struck with the Biden administration, European Union pledged to increase EU demand for U.S. natural gas by 4.8 billion cubic ft/day by the end of the decade. Some companies say they want the U.S. to more than quadruple global LNG exports to 55 billion cubic ft/day by 2030, more than total European consumption. The change in fortunes for the U.S. gas industry has been rapid. Just 18 months ago, its prospects looked bleak. A US$7-billion deal between French utility Engie SA and Texas LNG group Next Decade Corp. fell apart over concerns over the environmental impact of U.S. gas. But today the winds have changed as the geopolitics pushed energy security ahead of climate concerns in many countries. ( ECF Forum )
