US Boost Its LNG Supplies to Europe amid Ukraine War

The war in Ukraine has changed the direction of energy supplies around the world, and one result is that the United States is now sending more gas to Europe by sea than Russia by pipeline, the Wall Street Journal reported, citing ICIS data.
Since 1967, Gazprom’s pipelines in western Siberia and the Yamal Peninsula have delivered massive amounts of gas to Europe, but in recent months that precedent has been turned on its head.
In July, US liquefied natural gas accounted for 13% of total supplies to Europe, compared with 10% from Russian pipelines. Pipelines from Norway have been the main source of gas to the continent, while other sources include North African pipelines and LNG supplies from Qatar, as well as domestic production.
European wholesale gas prices have tripled in the past six months. Gazprom, citing technical problems, reduced Nord Stream 1 natural gas supplies to Germany from 40% to 20%.
The European Commission said 12 member states are experiencing a sharp reduction in flows, with several countries completely cut off. Literally this week Gazprom has suspended deliveries of natural gas to Latvia. Now the continent has begun importing more Russian diesel amid a struggle to cut off other energy supplies from the country.
According to Vortexa, imports of Russian diesel fuel increased by 23% compared to last year. With the war in Ukraine showing no signs of easing and the EU facing a historic energy crisis, the US “stepped in as an emergency energy supplier.”

About Parvin Faghfouri Azar

Check Also

China’s Renewables Growth Lifts Copper Demand as Housing Falters

China’s rapid build-up of clean energy is claiming more copper, supporting the market at a …

Leave a Reply

Your email address will not be published.