• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 15 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 6 days The United States produced more crude oil than any nation, at any time.
  • 5 days How Far Have We Really Gotten With Alternative Energy
  • 5 hours e-truck insanity
  • 3 days Bad news for e-cars keeps coming
  • 5 days China deletes leaked stats showing plunging birth rate for 2023
  • 6 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
Josh Owens

Josh Owens

Josh Owens is the Content Director at Oilprice.com. An International Relations and Politics graduate from the University of Edinburgh, Josh specialized in Middle East and…

More Info

Premium Content

Why The U.S. Will Not Ban LNG Exports

  • The White House intends to keep LNG exports to Europe flowing through winter.
  • American LNG has been crucial in meeting demand in Europe, which is scrambling for gas supply and willing to pay up for spot deliveries.
  • High demand in Europe, high natural gas prices, and increased export capacity made the United States the world’s largest LNG exporter in the first half of 2022.
LNG Export

Despite the rise in U.S. energy bills, the White House will not limit in any way, let alone ban, exports of natural gas this winter, as it aims to help Europe with the energy crisis, two sources involved in the discussions told Reuters on Tuesday.

The U.S. has been sending increased volumes of liquefied natural gas (LNG) to Europe since the Russian invasion of Ukraine and the subsequent halt of Russian pipeline gas supply to most of its customers in Europe.

In fact, American LNG has been crucial in meeting demand in Europe, which is scrambling for gas supply and willing to pay up for spot deliveries, outbidding most of Asia.

High demand in Europe, high natural gas prices, and increased export capacity made the United States the world’s largest LNG exporter in the first half of 2022, the U.S. Energy Information Administration said in July. The United States is shipping record volumes of LNG to Europe to help EU allies in their efforts to fill gas storage ahead of the winter amid growing uncertainty about Russian gas supply. Most U.S. LNG exports went to the EU and the UK during the first five months of 2022, accounting for 71%, or 8.2 Bcf/d, of the total American LNG exports, according to the EIA. 

For the first time ever, the European Union imported in June more LNG from the United States than gas via pipeline from Russia, as Moscow slashed its supply to Europe. 

In September, as much as 70% of all U.S. LNG exports in September were headed to Europe, up from 63% in August, per Refinitiv Eikon data cited by Reuters on Monday.

But high prices and low inventories in the United States have had the White House considering a possible limit to LNG exports. An analysis found that curbs on exports would fracture U.S. relations with its key ally, the EU, Reuters’ sources said today, adding that a total ban was never seriously considered.  

By Josh Owens for Oilprice.com 

ADVERTISEMENT

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News