European LNG demands are growing along with imports of Russian gas and if Europeans don’t want to be clawed by the Russian bear they’ll need our gas.
New data compiled by the Energy Information Administration (EIA) indicates just how much demand there will be for our US LNG in the years ahead. European LNG demands are growing for two reasons. One is their refusal to entertain fracking or more nuclear power. The other is the obvious risk in becoming dependent on Russian gas.
The data shows European LNG imports went down from 2010 to 2014 as natural gas demand declined with a weak economy. Now, though, both are headed up again. Moreover, US LNG is now available with new export terminals (e.g., Cove Point) have been constructed and more planned.