U.S. shale gas, LNG firms meet with European countries over supply crisis
By Liz Hampton
(Reuters) – At the very least a dozen U.S. shale fuel executives met on Wednesday with European power officers to debate increasing U.S. gas provides to Europe amid a scramble to switch Russian imports.
The group met in Houston with international affairs and financial ministers and business patrons seeking to cut back their imports of Russian oil, coal and liquefied pure fuel over its invasion of Ukraine, executives mentioned. The European Union plans to chop its reliance on Russian fuel by two-thirds this yr.
Delegations from Latvia and Estonia, diplomats from Bulgaria, Estonia, France, Germany, Hungary, Latvia, and the UK toured the Golden Go LNG export mission in Sabine Go, Texas, and later met in Houston with shale fuel producers, mentioned Fred Hutchison, chief government of commerce group LNG Allies.
Group discussions included prime executives from Chesapeake Power, Coterra Power, EOG Sources and EQT Corp, he mentioned. Particular person conferences are deliberate between U.S. executives and Latvian, Estonian and Slovak business representatives.
“The state of affairs in Europe is so precarious. All these nations which are depending on Russian fuel are dedicated to giving it up, in some circumstances fully,” mentioned Hutchison.
Constructing new LNG capability takes years and ample new provides is not going to be obtainable till mid-decade. “The capability challenges in 2022 are nice however the alternatives in a number of years are actually terrific,” he mentioned.
The necessity for brand new LNG crops was highlighted at a congressional listening to earlier within the day by Pioneer Pure Sources Chief Government Scott Sheffield. He urged Congress to embrace building of recent U.S. crops.
“We have to construct LNG amenities within the northeast,” Sheffield mentioned.
(Reporting by Liz Hampton in Denver; Edited by Gary McWilliams and Richard Pullin)
