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With out Russian pipeline fuel, Europe’s demand for LNG is projected to extend 150% from 2021-2040. And whereas US LNG is already flowing to Europe at report ranges, considerably extra will probably be required to totally rebalance European fuel markets.
That’s in line with a brand new evaluation launched this week by the American Petroleum Institute (API) and the Worldwide Affiliation of Oil and Fuel Producers (IOGP) that highlights the ‘immense potential’ of US LNG to assist strengthen power safety in Europe.
Launch of the examine, carried out by Rystad Power, follows many nations boycotting the availability of Russian fuel, one of many largest exporters, because of the warfare with Ukraine.
Learn extra: Europe’s unshackling from Russian fuel
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