Reported 3 days ago
The European Union is expected to import significantly more liquefied natural gas (LNG) from the US this winter, increasing its dependency amid declining pipeline supplies from Russia and Algeria. LNG imports could rise to 820 tankers, representing 48% of the EU's gas supply, a sharp increase from just 10% a decade ago. As the EU prepares to phase out Russian gas, US exports are anticipated to meet around 70% of Europe's LNG needs by 2026-2029, raising concerns over price volatility linked to external factors like demand from China.
Source: YAHOO