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Europe to Remain Well Supplied with US LNG: Hochstein

LNG

Europe will be well supplied with US LNG despite the project pause according to US Secretary of State for Energy Resources Amos Hochstein speaking with Alarabiya News over the weekend.

  • “It doesn’t affect any of the plans that have been financed, approved and under construction.” Hochstein said.
  • “Today, the US is the largest exporter in the world, by 2028 we will double that capacity, that’s all going to continue to happen, Europe will be well supplied.” Hochstein added.
  • “The only thing that has been paused, is beyond the doubling of our capacity.” Hochstein said.
  • Hochstein said that the US needs to take a pause to think about whether demand will be there for higher exports beyond doubled capacity as well as understanding the environmental and economic implications of the projects.
  • Hochstein also flagged that there is the ability to reverse the pause on LNG projects if energy is weaponized or there are any energy security issues.
  • “The timeline is going to be somewhere in the 10-14 month [range]” to decide on the pause.
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