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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 file ranges, considerably extra might be required to completely rebalance European fuel markets.
That’s based on a brand new evaluation launched this week by the American Petroleum Institute (API) and the Worldwide Affiliation of Oil and Gasoline Producers (IOGP) that highlights the ‘immense potential’ of US LNG to assist strengthen power safety in Europe.
Launch of the examine, performed by Rystad Power, follows many international locations boycotting the availability of Russian fuel, one of many greatest exporters, on account of the battle with Ukraine.
Learn extra: Europe’s unshackling from Russian fuel
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