News

US Gas at $4–$5 Is a Thing of the Past, Says Tellurian Chairman

Distressed Patriotic Flag Unisex T-Shirt - Celebrate Comfort and Country $11.29 USD Get it here>>


LONDON—The chairman of liquefied natural gas (LNG) company Tellurian Inc., Charif Souki, on Tuesday said that cheap U.S. gas is a thing of the past and the only solution for Europe’s energy crisis is to invest in U.S. gas infrastructure.

“Getting (U.S.) gas in the water for $4–$5 is something of the past; if you really want to justify an investment … you have to think of $10–$12,” Souki told the Energy Intelligence Forum in London.

Souki said investment in U.S. LNG projects could be Europe’s one option to solve the energy crisis sparked by Ukraine’s war, with Russian gas supplies to Europe having plunged since the start of the war.

“Europe will be spending $500 billion to $600 billion in subsidies for their consumers. For a fraction of that price, you could secure long term gas reserves from the [United] States,” he said.

“There are $100 billion of liquefaction projects in the United [States] that are permitted but have not been able to obtain financing …You have to make investments if you want to control the resource.”

The United States has been the biggest supplier of the seaborne fuel to Europe this year, with U.S. cargoes representing more than 70 percent of Europe’s Jan–Sept LNG imports.

By Marwa Rashad

Reuters

Follow



Source link

TruthUSA

I'm TruthUSA, the author behind TruthUSA News Hub located at https://truthusa.us/. With our One Story at a Time," my aim is to provide you with unbiased and comprehensive news coverage. I dive deep into the latest happenings in the US and global events, and bring you objective stories sourced from reputable sources. My goal is to keep you informed and enlightened, ensuring you have access to the truth. Stay tuned to TruthUSA News Hub to discover the reality behind the headlines and gain a well-rounded perspective on the world.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.