2- Answer the following:
a- Who benefited the most from stopping Nordstearm 2?
b- Who was the Marketing-in-Cheif of US LNG?
c- Who took advantage of Russian invasion of Ukraine to secure US LNG market share in Europe?
d- Which country is the largest gas exporter to Europe now?
a- Who benefited the most from stopping Nordstearm 2?
b- Who was the Marketing-in-Cheif of US LNG?
c- Who took advantage of Russian invasion of Ukraine to secure US LNG market share in Europe?
d- Which country is the largest gas exporter to Europe now?
3- Europe has not learned its lesson... yet!
- All they are doing now is shifting dependence from the "mined" fossil fuels to the "mined" minerals needed for the "claimed" carbon neutrality.
and most importantly: shifting Europe's dependence from Russian gas to US gas!
#Russia
- All they are doing now is shifting dependence from the "mined" fossil fuels to the "mined" minerals needed for the "claimed" carbon neutrality.
and most importantly: shifting Europe's dependence from Russian gas to US gas!
#Russia
5- LNG
Second: LNG is costlier than piped gas. Competition among European countries & between Europe & Asia will increase the cost further. As Europe implements additional climate policies, its dependence on imported LNG will increase, adding additional cost to energy transition
Second: LNG is costlier than piped gas. Competition among European countries & between Europe & Asia will increase the cost further. As Europe implements additional climate policies, its dependence on imported LNG will increase, adding additional cost to energy transition
8- US Politics
Fifth: US policies & politics change quickly, especially with the short election cycles. Remember how Trump withdrew the US from various international organizations & agreements?
As nat. gas prices increase, US politicians will ask for lower LNG exports to Europe.
Fifth: US policies & politics change quickly, especially with the short election cycles. Remember how Trump withdrew the US from various international organizations & agreements?
As nat. gas prices increase, US politicians will ask for lower LNG exports to Europe.
9- Global Competition
Sixth: In a tight global LNG market, US LNG supplies will go to the highest bidder. Europeans have no choice but to pay the highest price, suffer shortages, or find a way to get Russian natural gas! It will take years to replace Russian gas supplies. #LNG
Sixth: In a tight global LNG market, US LNG supplies will go to the highest bidder. Europeans have no choice but to pay the highest price, suffer shortages, or find a way to get Russian natural gas! It will take years to replace Russian gas supplies. #LNG
10- LNG Maintenance
Seventh: LNG plants on both sides require longer downtime for maintenance than pipelines. For now, such maintenance means lower supply. It will take Europe time to build additional gas storage to compensate for a decline in supplies due to this time difference
Seventh: LNG plants on both sides require longer downtime for maintenance than pipelines. For now, such maintenance means lower supply. It will take Europe time to build additional gas storage to compensate for a decline in supplies due to this time difference
12- Cyber Attacks on LNG facilities
Ninth: Putin supporters might resort to cyberattacks on LNG facilities. The LNG market is so tight to the extent the world cannot afford to lose one facility.
Attacks on various targets have failed in recent weeks, but what if?
#CyberSecurity
Ninth: Putin supporters might resort to cyberattacks on LNG facilities. The LNG market is so tight to the extent the world cannot afford to lose one facility.
Attacks on various targets have failed in recent weeks, but what if?
#CyberSecurity
13- Conclusion
Looking at Europe from an energy security point of view, it is clear that shifting dependence from Russia to the US does not solve Europe's problem. In fact, it will most likely make the situation worse given the number of risks and vulnerabilities.
Looking at Europe from an energy security point of view, it is clear that shifting dependence from Russia to the US does not solve Europe's problem. In fact, it will most likely make the situation worse given the number of risks and vulnerabilities.
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