https://sputnikglobe.com/20211001/european-gas-markets-attractive-to-us-producers-as-prices-at-record-highs---ex-us-official-1089588005.html
European Gas Markets Attractive to American Producers as Prices at Record Highs, Ex-US Official Says
European Gas Markets Attractive to American Producers as Prices at Record Highs, Ex-US Official Says
Sputnik International
WASHINGTON (Sputnik) - The European natural gas markets will continue to be attractive for American producers amid the prices at their record highs, energy... 01.10.2021, Sputnik International
2021-10-01T18:48+0000
2021-10-01T18:48+0000
2021-10-01T18:48+0000
europe
us
gas
gas supplies
https://cdn1.img.sputnikglobe.com/img/07e5/09/15/1089268640_0:174:3072:1902_1920x0_80_0_0_19e4c1e83907b924ab470254d4c6c4a0.jpg
On Thursday, the price of gas futures in Europe broke a new record, exceeding $1,150 per 1,000 cubic meters.Terzic noted that the export of US LNG went from nothing to 10 billion cubic feet per day (bcfd) in just five years with most of it going to two markets: 46% of LNG goes to Asia, followed by Europe with 37%.Terzic believes that Exports to both markets will continue but noted that US LNG facilities can only produce 10.5 bcfd and they are near capacity with only one LNG liquefaction facility scheduled to come into service later this year.
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2021
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
News
en_EN
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
europe, us, gas, gas supplies
europe, us, gas, gas supplies
European Gas Markets Attractive to American Producers as Prices at Record Highs, Ex-US Official Says
WASHINGTON (Sputnik) - The European natural gas markets will continue to be attractive for American producers amid the prices at their record highs, energy consultant Branko Terzic, a former commissioner on the US Federal Energy Regulatory Commission, told Sputnik.
"European natural gas markets will continue to be attractive to US producers as prices in Europe are at or near record highs of around $32 per mmBtu [Metric Million British Thermal Unit] in Europe and $30 in Asia versus just about $6 per mmBTu in the US", Terzic said. "Of course US gas needs liquefaction, shipping and gasification costs to be added but that’s in the $4-6 range".
On Thursday, the price of gas futures in Europe broke a new record,
exceeding $1,150 per 1,000 cubic meters."Today's high European gas prices attract US LNG sales where dwindling Western European gas fields make Russian natural gas the primary source,” Terzic said. “Western European countries will need to determine their level of comfort with increased imports from Russia on Nord Stream 2".
Terzic noted that the export of US LNG went from nothing to 10 billion cubic feet per day (bcfd) in just five years with most of it going to two markets: 46% of LNG goes to Asia, followed by Europe with 37%.
"Future export to China is dependent on China’s policies with respect to replacement of its coal-fired power plants", he noted. "If coal is replaced by natural gas then US exports continue and increase. If China turns aggressively to renewable energy then US gas sales to China fall".
Terzic believes that Exports to both markets will continue but noted that
US LNG facilities can only produce 10.5 bcfd and they are near capacity with only one LNG liquefaction facility scheduled to come into service later this year.
