Sanctions Will Boost Europe’s Dependency on U.S. Gas, CEO Says
Sanctions Will Boost Europe’s Dependency on U.S. Gas, CEO Says
(Bloomberg) -- Europe’s reliance on U.S. liquefied natural gas will increase even further if sanctions hit Russian gas exports, according to the head of pipeline operator Williams Cos.
“I’m sure you saw the news this morning,” Chief Executive Officer Alan Armstrong said Tuesday on a conference with investors, referring to Germany’s decision to halt certification of the Nord Stream 2 natural gas pipeline linking the country with Russia.
“Europe’s dependency on imported LNG from the U.S. continues to grow and will grow even faster” if Russian gas supplies can’t make it to Europe, he said.
Armstrong also said that natural gas is a “very powerful geopolitical tool for the U.S.” to improve its trade balance and be a leader in carbon reduction, “something we believe the Biden administration is really starting to recognize.”
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