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Thursday, June 8, 2023

Increasing LNG demand in Europe lowers global energy security level

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I am Annabelle Sampson and I work for The News Dept as an author for their news department. My main focus is on economy news, but I also cover other topics such as business, finance, and current affairs. My writing has been featured in prominent publications such as The Wall Street Journal, Forbes Magazine, and the Financial Times. I have a passion for learning more about economic trends and understanding how they affect businesses of all sizes. To stay up to date with the latest developments in the field of economics, I make sure to keep track of reliable sources like Bloomberg News or Reuters. In addition to my writing work, I often provide consultation services related to economic matters for clients both large and small.

Gazprom analysts said that the entire global energy market is destabilizing due to the rapidly increasing demand for LNG in European countries. However, despite the increase in gas prices, no investments were made in new LNG projects in the world. Reported by TASS.

EU countries wishing to buy more LNG in 2022 offered the best prices. Therefore, suppliers have sent LNG tankers to Europe in violation of long-term contracts with Asian countries. This destabilized the situation in the Asia-Pacific region.

“The volume of LNG projects for which FIDs have been accepted in 2022 is in line with the average annual rate of the last decade,” Gazprom said.

Despite the favorable conditions throughout the year, the USA could not increase its shale gas production. Not a single new field has begun development in the United States in five years. Obviously, this is not expected in the near future.

Source: Riafan

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