Europe’s biggest gas groups are sounding the alarm over President Joe Biden’s pause on new liquefied natural gas exports, warning that the pause could dampen industrial activity, force factory closures, and erode trust between leaders in Brussels and Washington.
These groups said they feared supply shortages within the next few years, which would leave them with few, if any, attractive options, such as purchasing more expensive supplies from far-away Qatar, reconsidering their planned start date to implement a bloc-wide ban on Russian LNG, or even being forced to return to dirtier fossil fuels, such as coal, in the event of an emergency.
“The pause could potentially disrupt the global LNG market dynamics, impact the trust for U.S. exports, impacting European import strategies and supply chains,” Torben Brabo, the senior vice president of Gas Infrastructure
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