Liquefied-natural gas (LNG) is a bridge fuel that will help the world reach decarbonization as an energy source that is vastly cleaner than its hydrocarbon competitors, such as diesel and coal. When it comes to power generation, it is still able to employ much of the infrastructure used by other fossil fuels. Lately, it has assumed another role: in Europe, LNG is protecting the continent from a total blackout as Vladimir Putin is contemplating turning off the spigot, while in the United States, it is a gold mine that can potentially turn the country into a future energy superpower.
America’s LNG production rapidly increased from January 2022 to November 2022 by 11.2 billion cubic feet per day, roughly 12% of production, to fill unmet European demand after Russia’s invasion of Ukraine. The collapse of the EU-wide Ostpolitik and Russia’s unreliability as a future supplier have opened new vistas for American LNG despite a higher price than piped gas. American LNG joins gas from, Australia, Oman, Qatar, and other markets to fill Europe’s and the world’s energy thirst.