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Can Europe Count On US LNG?
(www.forbes.com)
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this post was submitted on 20 Feb 2024
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The very simple fact is that we have enough gas right now. So Biden not permitting new LNG terminals in the US is perfectly fine for the EU. Not only that, but LNG is more expensive then pipeline gas and we are reducing gas consumption. So in the coming years we are reducing LNG consumption Also no coal will not be replaced by gas on a large scale in the electricity mix. Right now EU wide it makes up 13% of electricity production and we are adding a lot of renewables to our grid. So coal will be replaced by renewables, instead of fossil gas.
As long as Biden does not cut LNG supply from existing infrastructure in a big way, we will be just fine. The main new customers will be in Asia.