Fuel-Starved Europe Offers Push Needed for U.S. Gas Projects
- European demand for U.S. LNG surging even before Ukraine war
- Germany’s plan to build fuel-import terminals a ‘game changer’
A carrier ship at a LNG export terminal in Sabine Pass, Texas.
Photographer: Lindsey Janies/Bloomberg
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The threat of supply disruptions in Europe, along with Germany’s pledge to build two new fuel-import terminals, could be the push U.S. developers need to move forward with the nearly dozen proposed liquefied natural gas projects.
Europe was already fuel-starved, and the war in Ukraine is compounding the strain. Shell Plc and U.K. energy supplier Centrica Plc are among companies saying they’ll exit Russian gas-supply agreements or ventures, helping send natural gas prices surging 60% to a fresh record on Wednesday in one of the most dramatic examples of the fallout rippling through commodity markets from the war in Ukraine.