US becomes EU’s second-largest gas supplier
Does the US dream of reducing Russian gas supplies to Europe come true now that Russia is the EU’s second-largest gas supplier?
The United States (US) has been overly optimistic in its demand that Europe cut its reliance on Russian gas supplies.
After the United States witnessed a boom in shale and oil discoveries, it offered the EU to reduce its reliance on Russia for gas supplies and switch to LNG imports to meet their needs.
However, experts believe that LNG will be insufficient to meet Europe’s demand.
Following Russia’s war in Ukraine, Putin cut gas supplies to the EU, allowing the US to increase LNG supplies to the EU.
As a result, the United States will not only capture the EU market but will also reduce the EU’s reliance on Russian gas in Europe.
So the US strategy worked, and it is now the second largest gas supplier to EU countries.
Russia has been collaborating with Germany on the Nord-2 Gas Pipeline, which has irritated the United States.
Even former US President Donald Trump has warned Germany to abandon the gas pipeline project with Russia.
Despite US opposition, Germany has pledged to keep the project going.
In such a scenario, the US has emerged as the second-largest gas supplier to EU countries.
Norway has surpassed Russia in terms of inflows.
The United States has surpassed Russia as the EU’s second-largest gas supplier as a result of increased LNG deliveries, said Valdis Dombrovskis, deputy head of the European Commission, on Thursday at an economic conference in Latvia.
According to the TASS news agency, he said that they were able to completely rebuild the structure of our suppliers.
He added that Norway had emerged not as the largest supplier of natural gas, followed by the United States, which supplied them with liquefied natural gas.
Prior to this year, Russia was the bloc’s largest gas supplier, meeting roughly 40% of the region’s needs. However, since the start of Moscow’s military operation in Ukraine and the subsequent Western sanctions, Russian supplies have dropped to just 9% of the EU’s imports.
Last year, the United States surpassed Algeria as the EU’s third-largest supplier. American LNG shipments were increased further in 2022 and now account for nearly half of the bloc’s total LNG purchases.
Some criticize Washington for exploiting the region’s energy crisis, claiming that its LNG deliveries are up to four times more expensive than the Russian gas supplies on which it previously relied. Can Pakistan buy LNG from Russia amid US opposition?
