The Russia-Ukraine standoff has significant implications for the global gas and LNG markets, given Europe’s reliance on Russian supply, reports Platts.
European gas inventories falling
It’s peak winter demand season, and European gas inventories have been falling daily. Gas in storage stands at about 40% full, versus 53% full at the same time a year ago.
The Biden administration said last week it was working with European allies to find additional natural gas supplies from North Africa, the Middle East, Central Asia and the US in the event military conflict breaks out and Russian flows get disrupted.
Current state of the LNG market
Platts Atlantic LNG senior editor Harry Weber spoke with Charif Souki, executive chairman of US liquefaction terminal developer Tellurian, about the current state of the LNG market and whether the US dialogue can make a difference.
Souki co-founded and formerly served as CEO of Cheniere Energy, the biggest US LNG exporter. At Tellurian, he is developing Driftwood LNG, an up to 27.6 million mt/year export facility in Louisiana.
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