U.S. shale and LNG companies meet with European countries over supply crisis

In this illustration taken on January 31, 2022, 3D-printed natural gas pipelines are placed over U.S. and Russian flags on display.REUTERS/Dado Ruvic/Illustration
April 6 (Reuters) – At least 12 U.S. shale gas executives held discussions with European energy officials on Wednesday about increasing U.S. fuel supplies to Europe as part of an effort to replace Russian imports.
At the Houston meeting, foreign affairs, economy ministers and business buyers discussed how to reduce Russian oil, coal and LNG imports after Moscow invaded Ukraine, trade group officials said.The EU plans to reduce its reliance on Russian gas by two-thirds this year.read more
A delegation from Latvia and Estonia, and diplomats from Bulgaria, Estonia, France, Germany, Hungary, Latvia and the United Kingdom visited the Golden Pass LNG export project in Sabine Pass, Texas, followed by a meeting with Shale in Houston Gas producer Fred Hutchison, chief executive of trading group LNG Allies, said.
The panel discussion included executives from Chesapeake Energy (CHK.O), Coterra Energy (CTRA.N), EOG Resources (EOG.N) and EQT Corp (EQT.N), he said.Separate meetings are planned between U.S. executives and business representatives from Latvia, Estonia and Slovakia.
“The situation in Europe is very fluid. All these countries that depend on Russian gas are committed to giving up, in some cases completely giving up,” Hutchison said.
Building LNG capacity will take years, and sufficient new supply will not be available until the middle of the decade.”The capacity challenge in 2022 is huge, but the opportunity a few years from now is really great,” he said.
Anne Bradbury, chief executive of AXPC, said the meeting, which was coordinated by the American Exploration and Production Council (AXPC) with LNG allies, focused on ways to wean Europe off Russian gas, including the need for more infrastructure in the US and Europe.
Pioneer Natural Resources CEO Scott Sheffield highlighted the need for new LNG plants during a congressional hearing earlier Wednesday.He urged Congress to accept building new U.S. factories.
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Post time: Apr-11-2022