US tries to fill vacuum as Ukraine crisis threatens European gas supply

The standoff between Russia and Ukraine has significant implications for global gas and LNG markets, given Europe’s dependence on Russian supplies.

It is peak winter demand season and European gas stocks are shrinking every day. Gas in storage is around 40% full, compared to 53% 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 United States just in case. a military conflict would break out and Russian flows would be disrupted.

Platts editor Harry Weber spoke with Charif Soukiexecutive chairman of US liquefaction terminal developer Tellurian, on the current state of the LNG market and whether US dialogue can make a difference.

Souki co-founded and was formerly CEO of Cheniere Energy, the largest US LNG exporter. At Tellurian, he is developing Driftwood LNG, a 27.6 Mtpa export facility in Louisiana.

Stick around after Starr Spencer’s interview with the Market Minute, a look at the drivers of the near-term oil market.

This Capitol Crude podcast was produced by Meghan Gordon in Washington and Jennifer Perick in Houston.

Related coverage:

Insight Conversation: Charif Souki, Leylander

US is working with Europe to identify other non-Russian gas supplies: White House

Asian countries assess oil and gas price risks and contingencies amid Ukraine crisis

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