As the war in Ukraine rages, American LNG companies gear up to make a killing in the European market
As Russia attacks Ukraine, a clear victor is emerging in the energy landscape where commercial alliances have been forged far away from the cries of Ukrainian people suffering the ravages of the war.
In 2021, the US became the single largest LNG supplier to the 27-member European Union and the United Kingdom. Then in January, it accounted for more than half of the LNG imported into Europe. American companies involved in various stages of the LNG supply chain - gas production, transportation to the ports, storage and liquefaction process - have increased supply to the EU and UK markets because of the higher prices there.
The Sabine Pass terminal alone has a regasification capacity of 4 billion cubic feet per day - that is equal to Pakistan’s entire gas output.
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