"The tragedy of Russia’s invasion of Ukraine presents a business opportunity for the U.S. natural gas industry if Europe turns sharply away from Russian gas.
Prior to the war, Europe got more than a third of its gas from Russia. If Europeans wean themselves from that, American gas producers and exporters of liquefied natural gas say they can help fill the gap in the years ahead.
“There’s a huge opportunity to counter Russian aggression,” said Anne Bradbury, CEO of the American Exploration & Production Council (AXPC), which represents large independent oil and gas producers. “It’s important that we’re able to step up and support our allies.”
The issue is at the forefront after the European Commission unveiled proposals yesterday to reduce its dependence on Russian energy, including increasing LNG imports from countries other than Russia and increasing use of renewable energy. President Biden’s ban on U.S. imports of Russian oil also includes gas imports from the country, although the U.S. doesn’t currently import any Russian gas."
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