In a move that enhances American energy security and geopolitical standing, the U.S. is set to double the amount of natural gas exported to the European Union by 2020, with the help of two long-term orders recently signed by U.S. Secretary of Energy Rick Perry.
In less than a year, the U.S. will provide an annual 4 tcf of natural gas to Europe. This staggering increase in the export of clean, American natural gas is a continuation of the export trend between the United States and the European Union – which has tripled in volume since July.
“The bottom line is the United States has what Europe wants—an incredible abundance of clean and affordable natural gas,” Perry said, commenting on the export growth.
Oklahoma, as one of the nation’s leading oil and natural gas producing states, is supporting this increase in export capacity, all while our economy and consumers at home benefit. With the help of existing and new infrastructure, Oklahoma-based production is doing its part to facilitate energy security around the world and provide American allies with the option to break energy dependence on Russia.
EU Energy Commissioner, Miguel Arias Cañete, commented on this positive development for the EU, which currently obtains most of its natural gas from Russia: “Diversification is important not only for security of supply, but also for competition.”
Here’s what they’re saying on this important trend:
Europe to expand U.S. natural gas imports
“The United States is again delivering a form of freedom to the European continent,” Secretary Perry told reporters in Brussels on Wednesday. “And rather than in the form of young American soldiers, it’s in the form of liquefied natural gas.”
The EIA this week said the country’s total net natural gas exports likely will average 4.7 billion cubic feet per day in 2019 and 7.5 billion cubic feet per day in 2020, “with most of the growth attributable to increases in LNG exports.” The country’s natural gas exports have been fueled by growing production in Oklahoma, Texas and other parts of the country. (5/3/19)
U.S Boosts Natural-Gas Exports to EU, Aiming to Dent Russian Sales
“We’re here to talk about LNG, and that’s probably the biggest opportunity we have,” Mr. Perry said at the first EU-U.S. high-level business-to-business energy forum, urging companies to strike deals. “The bottom line is the United States has what Europe wants—an incredible abundance of clean and affordable natural gas.”
The EU was America’s top gas customer in the final quarter of last year and first quarter of this year, Mr. Perry said. According to the EU, 35% of U.S. LNG landed in Europe during the first four months of 2019, up from 11% last year. (5/2/19)
US natural gas exports to Europe signal renewed US-EU Cooperation
“We share a history of transatlantic cooperation, through good times and bad, and together, we promote our heritage of freedom,” said Perry in a statement. “When it comes to natural gas, we each have what the other needs to derive tremendous mutual benefit from advancing our energy relationship.”
Increased cooperation between the U.S. and Europe will include a range of infrastructure projects from building new pipelines to LNG import terminals, the EU statement added. (5/2/19)
Europe’s imports of American natural gas are soaring
For US energy producers that kicked off exports to Europe with just three vessels in 2016, the market potential is enticing. Already in 2019, 48 vessels have carried liquid natural gas from the United States to Europe.
The European Union also has compelling reasons to buy more energy from the United States. Chief among them: The bloc has been trying, and failing, to cut its dependency on Russian gas since the 2014 crisis in Ukraine. (5/2/19)