US LNG Pause to Have No Short or Mid-Term Impact on EU Supply: Platts

The Biden administration’s decision to pause approvals of new LNG export permits will not have a short-term or medium-term impact on EU supply security, according to Platts citing the European Commission.

• US President Joe Biden paused pending approvals of new LNG exports projects on Friday until the DOE has reviewed the economic and environmental impacts of new projects seeking approval.
• "It [the review] also includes an exemption for immediate national security emergencies. Therefore, this pause will not have any short-to-medium term impacts on the EU's security of supply," the EC spokesperson said.
• However, Eurogas President Didier Holleaux, warned that additional US LNG projects are required to replace a further 50 bcm/y Russian gas.
• "We still have a supply gap and as such we need additional LNG imports from the US," he said.