EU’s Costa Says Russian LNG Phase-Out Makes Room for US Supplies
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The European Union’s imminent release of a road map for phasing out Russian fossil fuel purchases will signal to companies that they should source more liquefied natural gas from the US, according to European Council President Antonio Costa.
The 27-nations bloc is scheduled to unveil its plan for winding down energy purchases from Moscow on May 6 after Russia had sharply reduced natural gas exports to Europe following the invasion of Ukraine in 2022, triggering unprecedented increases in fuel and electricity prices.