The European Union’s (EU) LNG demand is likely to peak this year and buyers on the continent are likely to be over-contracted by 2030 as efforts to displace Russian natural gas over the last two years have been successful, according to the bloc’s energy watchdog. Since 2022, when Russia invaded Ukraine and cut off gas…
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EU Progresses Plan Allowing Members to Ban Russian LNG, Pipeline Gas Imports
European Union (EU) member countries may be allowed to ban natural gas pipeline and LNG imports from Russia and Belarus in the near future, potentially increasing tensions with some of the bloc’s largest importers of the super-chilled fuel. A proposed resolution endorsed on Friday by the European Parliament and the EU Council would give member…
December 13, 2023
EU’s Plan to Reduce Reliance on Russian Energy is Missing LNG Sanctions, Bruegel Says
While the European Union has been working more than a year to replace Russian pipeline gas and decrease the country’s influence on the European economy, imports of Russian LNG have been ticking upward. The EU may need further sanctions on LNG if it’s serious about kicking Russian fossil fuels, according to a European think tank.…
July 5, 2023
U.S. to Support LNG Exports to Poland with $500M Guarantee
The Biden administration has agreed to provide $500 million in guarantees for Poland’s PKN Orlen SA to provide more domestic LNG for European countries working to replace Russian natural gas. The U.S. International Development Finance Corp. (DFC) board approved a plan to back the Polish utility’s hedges for liquefied natural gas with a European unit…
June 13, 2023
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