Enhancing global natural gas and LNG supply security

The impact of Europe’s LNG procurement expansion was significant, exerting great pressure on the global pipeline gas and LNG market, where overall supply shrank due to the decline in Russian gas supply. As for crucial alternative gas procurement, Europe made desperate efforts to secure and expand LNG imports, including those from the United States. Europe rapidly expanded its U.S. LNG procurement by taking full advantage of the inherent flexibility of U.S. LNG supply. Europe thus became the largest importer of U.S. LNG and overtook Japan and China to take the position of the world’s largest LNG-importing region. The pressure led […]