Europe

Northwest European natural gas markets face massive investments in infrastructure as the region will have to accommodate new supply sources that don’t align with the current output coming from the European Union’s largest soon-to-be-shut gas field, according to Wood Mackenzie.

In a move to illustrate the European Union’s (EU) commitment to its joint agreement to strengthen diplomatic ties with the United States, the European Commission reported Friday that the EU has boosted U.S. liquefied natural gas (LNG) imports by 181% to 7.9 billion cubic meters (Bcm) since the agreement was announced last July.

Europe, specifically the northwest part of the continent, will have to absorb the surplus liquefied natural gas (LNG) supplies expected to hit the market this year as an economic slowdown, a more thoughtful approach on coal-to-gas switching and increased domestic infrastructure availability will lead to slower demand in China, according to Wood Mackenzie.

The Trump administration looked to advance Lower 48 liquefied natural gas (LNG) exports to Europe along two fronts Tuesday, with one official saying the White House wants to help facilitate U.S. exports to the continent and another urging European allies not to participate in a pair of pipeline projects backed by Russia.

Increased U.S. natural gas exports, particularly to the European Union (EU), can provide extensive economic and geopolitical advantages, according to experts testifying Thursday before a Senate committee.

Swiss utility Axpo Group stepped forward Thursday as the second prospective European customer for liquefied natural gas (LNG) from the proposed Goldboro export terminal on the Atlantic coast of Nova Scotia.

Global petrochemical giant Ineos said Tuesday it plans to invest more than $3 billion to build a world scale ethane cracker and propane dehydrogenation unit in northwest Europe to take better advantage of U.S. natural gas supplies.

The liquefied natural gas (LNG) market worldwide has begun to rebalance, albeit modestly, as concerns about oversupply ease, according to Wood Mackenzie.

The United States is “eager” to work with its European allies to develop natural gas and oil infrastructure to help diversify the continent’s energy supply, Secretary of State Rex Tillerson told an audience on Tuesday.