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US Center for LNG Opposes EU Proposal for Gas Price Cap

NATURAL GAS

The US natural gas export industry opposes the European Union proposals to cap prices on natural gas imports.

  • “We understand the enormous challenge that EU countries currently face,” Charlie Riedl, executive director of the Center for LNG, said in a statement Friday. “It’s our belief that measures to impose price caps inevitably distort and undermine energy markets, creating unintended consequences. We hope the energy ministers will avoid taking this approach.”
  • EU energy ministers said after the meeting today that more work is needed on the idea of a cap on gas prices after some nations objected.
  • The US became the largest exporter of LNG in the first half of 2022 and has increased supplies to Europe to cover for missing Russian supplies.
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