Arab Press

بالشعب و للشعب
Thursday, Dec 04, 2025

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
As Trump Deepens Ties with Saudi Arabia, Push for Israel Normalization Takes a Back Seat
Thai Food Village Debuts at Saudi Feast Food Festival 2025 Under Thai Commerce Minister Suphajee’s Lead
Saudi Arabia Sharpens Its Strategic Vision as Economic Transformation Enters New Phase
Saudi Arabia Projects $44 Billion Budget Shortfall in 2026 as Economy Rebalances
OPEC+ Unveils New Capacity-Based System to Anchor Future Oil Output Levels
Hong Kong Residents Mourn Victims as 1,500 People Relocated After Devastating Tower Fire
Saudi Arabia’s SAMAI Initiative Surpasses One-Million-Citizen Milestone in National AI Upskilling Drive
Saudi Arabia’s Specialty Coffee Market Set to Surge as Demand Soars and New Exhibition Drops in December
Saudi Arabia Moves to Open Two New Alcohol Stores for Foreigners Under Vision 2030 Reform
Saudi Arabia’s AI Ambitions Gain Momentum — but Water, Talent and Infrastructure Pose Major Hurdles
Tensions Surface in Trump-MBS Talks as Saudi Pushes Back on Israel Normalisation
Saudi Arabia Signals Major Maritime Crack-Down on Houthi Routes in Red Sea
Italy and Saudi Arabia Seal Over 20 Strategic Deals at Business Forum in Riyadh
COP30 Ends Without Fossil Fuel Phase-Out as US, Saudi Arabia and Russia Align in Obstruction Role
Saudi-Portuguese Economic Horizons Expand Through Strategic Business Council
DHL Commits $150 Million for Landmark Logistics Hub in Saudi Arabia
Saudi Aramco Weighs Disposals Amid $10 Billion-Plus Asset Sales Discussion
Trump Hosts Saudi Crown Prince for Major Defence and Investment Agreements
Families Accuse OpenAI of Enabling ‘AI-Driven Delusions’ After Multiple Suicides
Riyadh Metro Records Over One Hundred Million Journeys as Saudi Capital Accelerates Transit Era
Trump’s Grand Saudi Welcome Highlights U.S.–Riyadh Pivot as Israel Watches Warily
U.S. Set to Sell F-35 Jets to Saudi Arabia in Major Strategic Shift
Saudi Arabia Doubles Down on U.S. Partnership in Strategic Move
Saudi Arabia Charts Tech and Nuclear Leap Under Crown Prince’s U.S. Visit
Trump Elevates Saudi Arabia to Major Non-NATO Ally Amid Defense Deal
Trump Elevates Saudi Arabia to Major Non-NATO Ally as MBS Visit Yields Deepened Ties
Iran Appeals to Saudi Arabia to Mediate Restart of U.S. Nuclear Talks
Musk, Barra and Ford Join Trump in Lavish White House Dinner for Saudi Crown Prince
Lawmaker Seeks Declassification of ‘Shocking’ 2019 Call Between Trump and Saudi Crown Prince
US and Saudi Arabia Forge Strategic Defence Pact Featuring F-35 Sale and $1 Trillion Investment Pledge
Saudi Sovereign Wealth Fund Emerges as Key Contender in Warner Bros. Discovery Sale
Trump Secures Sweeping U.S.–Saudi Agreements on Jets, Technology and Massive Investment
Detroit CEOs Join White House Dinner as U.S.–Saudi Auto Deal Accelerates
Netanyahu Secures U.S. Assurance That Israel’s Qualitative Military Edge Will Remain Despite Saudi F-35 Deal
Ronaldo Joins Trump and Saudi Crown Prince’s Gala Amid U.S.–Gulf Tech and Investment Surge
U.S.–Saudi Investment Forum Sees U.S. Corporate Titans and Saudi Royalty Forge Billion-Dollar Ties
Elon Musk’s xAI to Deploy 500-Megawatt Saudi Data Centre with State-backed Partner HUMAIN
U.S. Clears Export of Advanced AI Chips to Saudi Arabia and UAE Amid Strategic Tech Partnership
xAI Selects Saudi Data-Centre as First Customer of Nvidia-Backed Humain Project
President Trump Hosts Saudi Crown Prince Mohammed bin Salman in Washington Amid Strategic Deal Talks
Saudi Crown Prince to Press Trump for Direct U.S. Role in Ending Sudan War
Trump Hosts Saudi Crown Prince: Five Key Takeaways from the White House Meeting
Trump Firmly Defends Saudi Crown Prince Over Khashoggi Murder Amid Washington Visit
Trump Backs Saudi Crown Prince Over Khashoggi Killing Amid White House Visit
Trump Publicly Defends Saudi Crown Prince Over Khashoggi Killing During Washington Visit
President Donald Trump Hosts Saudi Crown Prince Mohammed bin Salman at White House to Seal Major Defence and Investment Deals
Saudi Arabia’s Solar Surge Signals Unlikely Shift in Global Oil Powerhouse
Saudi Crown Prince Receives Letter from Iranian President Ahead of U.S. Visit
Saudi Arabia’s Crown Prince Begins Washington Visit to Cement Long-Term U.S. Alliance
Saudi Crown Prince Meets Trump in Washington to Deepen Defence, AI and Nuclear Ties
×