Arab Press

بالشعب و للشعب
Tuesday, Mar 17, 2026

Can America fix Europe's gas problem?

Can America fix Europe's gas problem?

North Atlantic shipping lanes are going to be very busy this year as an armada of US natural gas shipments heads to Europe, helping the continent to reduce its reliance on Russian energy following the invasion of Ukraine.

The Biden administration said Friday that the United States will work with other suppliers to send an additional 15 billion cubic meters of liquefied natural gas (LNG) to the European Union in 2022.

Energy experts say that American LNG export terminals are running red hot this year, putting the Biden administration's goal within reach.

"An increase of 15 billion cubic meters from 2021 levels should be achievable, particularly if we continue to see the strong flows that we have seen so far this year," said commodities strategists at Dutch bank ING.

How much gas are we talking? An increase of 15 billion cubic meters won't come close to replacing Europe's Russian gas imports, which totaled roughly 155 billion cubic meters in 2021.

But it's a start.

"15 billion cubic meters of LNG is a big number. It's equal to about one sixth of Germany's annual gas demand," said Alex Froley, LNG analyst at Independent Commodity Intelligence Services.

Remember: LNG is not shipped through pipelines. Instead the gas is cooled to a liquid and loaded onto ships. Sending an additional 15 billion cubic meters to Europe would mean an extra 150 shiploads crossing the Atlantic.

A US Coast Guard boat moves past the Asia Vision LNG carrier ship docked at a terminal in Sabine Pass, Texas.


It's remarkable that the United States is in a position to help Europe at all.

The United States only shipped its first LNG cargo from the lower 48 states in 2016, and has risen to become the world's top exporter in just six years as a shale gas revolution boosted domestic production and turned the country into a powerful force in global energy markets.

America exported more LNG than rival producers Qatar and Australia for the first time in December. It will be the biggest exporter in the world through 2022 as a whole, according to the US Energy Information Agency.

The United States will add even more capacity in the coming years.

"The US has abundant gas supplies, a broadly favourable political and regulatory environment, and an experienced and capable construction industry, making it one of the most attractive locations to develop new export capacity," Ed Crooks of Woods Mackenzie said earlier this year.

A huge spike in gas prices in Europe was attracting more US shipments even before the Biden administration's announcement on Friday.

The European Union imported more than 12 billion cubic meters of LNG from America in the first three months of the year, up from 4 billion cubic meters in the same period in 2021, according to Froley.

That means the United States is already pacing well ahead of Biden's goal.

Remembering an investing legend


Edward "Ned" Johnson III, who oversaw Fidelity Investments' transformation into a financial services powerhouse and pioneered the sale of mutual funds directly to individual investors, died Wednesday. He was 91 years old.

Johnson served as chairman and CEO of Fidelity Investments, the company his father started, for over 40 years, and transformed the mutual fund manager into the second-largest investment management company in the US and one of the most successful financial services firms in the world.

Success story: When Johnson became president in 1972, Fidelity had $3.9 billion in assets under management. The firm now has $11.1 trillion in assets under administration, as of its February filing.

Johnson helped revolutionize the way Americans save and plan for retirement by making Wall Street more accessible to investors, reports my CNN Business colleague Nicole Goodkind.

In 1974, he broke the mold by selling mutual funds directly to individual investors instead of through traditional brokers. After the 401(k) was created by Congress in 1978, he introduced a retirement fund management system, which is now a foundational element of millions of Americans' retirement plans. As the stock market began a sustained period of growth in the 1980s, Fidelity was the first companies to supply discount brokerage services to individuals. In 1995, it became the first fund company to create a website.

People are searching for electric cars


As gas prices soar and pain at the pump intensifies, consumers are reacting by searching for — and possibly dreaming of — more fuel-efficient vehicles, reports my CNN colleague Rachel Ramirez.

Web search interest in electric vehicles reached a record high in the United States in March, according to Google Trends.

While high gas prices are certainly one reason, Jesse Toprak, chief auto analyst at Autonomy, an EV subscription company, said the new interest is spurred by a combination of factors.

"It's a direct reaction to high gas prices, and on top of that, we're also seeing more and more EV models available to choose from for consumers," Toprak told CNN Business.

Does that mean every Google searcher is shopping for a new EV? Maybe not.

Many people are likely exploring the costs and benefits of these cool-looking, electricity-fueled cars. EVs are still prohibitively expensive for many US households. And rather than shelling out even more money up front, many consumers tend to hold on to their current vehicles for as long as they'll last.

Yet Toprak said the Google Trends search is a good measure of consumer demand, and that it matches what his company has been seeing in recent weeks: increases in inquiries and reservations for electric cars.

"We're also seeing that more customers want to educate themselves, even if they've been on the sidelines so far," Toprak said. "There's clearly an interest in consumers trying to figure out, 'is this a better alternative for me?'"

Up next


US pending home sales data will be published at 10:00 a.m. ET

Also today: Consumer sentiment survey from the University of Michigan.

Coming next week: US jobs report for March; Earnings from BioNTech and Walgreens Boots Alliance.

Comments

Oh ya 4 year ago
The true part is Russia has not turned off the tap to any country yet. They have now told everyone that they need to pay either in real money (gold) or in Russian money as the world have cut them off the SWIFT payment system as dollars, and Euros are no good to them. They have even made their bond interest payment. And with what the US has said they can send is only going to make a few freeze to death a little slower. Russia is fighting to push the Neo Nazis put of Ukraine, why does this make them the bad guy as we all know what the Nazis did in WWII. And if it was not for Russia fighting and beating them back to the German border in WWII, you might be speaking a differnt native language

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Saudi Arabia Targets South African Professionals in New Recruitment Drive Amid Regional Uncertainty
Formula One Faces Major Financial Hit as Bahrain and Saudi Arabian Grands Prix Cancelled Amid Middle East Conflict
U.S. and Saudi Firms Launch Local Production of Attritable Drone Systems in Saudi Arabia
Saudi Arabia and UAE Warn Rising Gulf Tensions Could Endanger Regional Security
Saudi Arabia Rejects Claims It Encouraged Prolonged War With Iran
Saudi Arabia to Host World’s Largest Single-Cell Protein Plant as Food Security Push Accelerates
Saudi Crown Prince Urges Trump to Continue Military Pressure on Iran
Iran Intensifies Drone Campaign Against Saudi Arabia as Gulf Conflict Escalates
When Is Eid al-Fitr 2026? Saudi Arabia Awaits Moon Sighting to Confirm End of Ramadan
When Is Eid al-Fitr 2026? Saudi Arabia Awaits Moon Sighting to Confirm End of Ramadan
Iranian Missile Strike Damages Five U.S. Refueling Aircraft at Saudi Air Base
Iranian Missile Strike Damages Five U.S. Refueling Aircraft at Saudi Air Base
Washington State Pilot Among Six U.S. Airmen Killed in Military Aircraft Crash Over Iraq
Severe Storm Threat Looms Over Washington as Tornado Risk and Damaging Winds Target Mid-Atlantic
Trump Supports FCC Warning to Broadcasters Over Iran War Reporting
Trump Supports FCC Warning to Broadcasters Over Iran War Reporting
Saudi Stocks Edge Lower as Tadawul All Share Index Slips Slightly at Market Close
Iranian Missile and Drone Strike Targets Saudi Arabia’s Prince Sultan Air Base Hosting US Aircraft
Saudi Air Defenses Intercept Drone Over Eastern Province as Iranian Strike Campaign Intensifies
Middle East War Reshapes Gulf Economies as Saudi Arabia and Oman Gain Strategic Leverage While UAE Faces Economic Shock
Iranian Ambassador in Riyadh Blames ‘Enemies’ for Attacks Across the Gulf
Israeli Envoy Ron Dermer Reportedly Visits Saudi Arabia for Discussions on Potential Lebanon Talks
Formula One Cancels Bahrain and Saudi Arabian Grands Prix Scheduled for April
Iran’s Ambassador in Riyadh Rejects Claims Tehran Targeted Saudi Oil Facilities
Saudi Arabia Declares 2026 ‘Year of Artificial Intelligence’ in Major Push for Data-Driven Economy
Saudi Arabia’s 2018 Budget Signals Strong Push for Non-Oil Economic Growth
Pakistan Envoy in Riyadh Says Regional Diplomacy Intensifying to Prevent Wider Middle East War
Saudi Arabia Intercepts Dozens of Drones as Regional Strikes Kill Two in Oman
Saudi Arabia Redirects Oil Exports to Red Sea Ports as Strait of Hormuz Tensions Escalate
Saudi Arabia Intercepts Missile and Drone Barrage as Regional Conflict Intensifies
Iran Expands Drone and Missile Campaign Across Gulf as Conflict With US and Israel Intensifies
Muslims Worldwide Await Saudi Moon Sighting to Confirm Eid al-Fitr 2026 Date
F1 Calendar Faces Major Disruption as Middle East Conflict Threatens Bahrain and Saudi Races
Trump Says Most US Aircraft Hit in Saudi Base Attack Suffered Minimal Damage
Trump Says Most US Aircraft Hit in Saudi Base Attack Suffered Minimal Damage
Strait of Hormuz Crisis Forces Saudi Arabia Into Major Oil Production Shut-In
Strait of Hormuz Crisis Forces Saudi Arabia Into Major Oil Production Shut-In
Saudi Arabia Slashes Oil Output as Strait of Hormuz Crisis Cuts Deep Into Gulf Revenues
Saudi Arabia’s Cultural Scene Presses Ahead as Nation Navigates Regional War
Saudi-Pakistan Defence Pact Faces Real-World Constraints as Iran War Escalates
Saudi Arabia Offers Two Million Barrels of Crude From Red Sea as War Disrupts Gulf Exports
Formula One Faces Tens of Millions in Lost Revenue if Bahrain and Saudi Arabia Races Are Cancelled
Formula One Set to Cancel Bahrain and Saudi Arabian Grands Prix Amid Escalating Middle East War
Saudi Arabia Downs Dozens of Iranian Drones in Major Defensive Operation
Saudi Arabia Cuts Oil Output by About Twenty Percent as Iran War Disrupts Gulf Energy Flows
Formula One Set to Cancel Bahrain and Saudi Arabian Grands Prix Amid Escalating Iran War
Asian Energy Security Tested as Strait of Hormuz Disruption Threatens Oil Supplies
Iran Sets Three Conditions for Ending Regional War as Diplomatic Efforts Intensify
Saudi Arabia Launches Royal Institute of Anthropology to Examine Social Transformation
Pakistan’s Prime Minister Shehbaz Sharif Arrives in Saudi Arabia for High-Level Talks
×