Can American liquefied natural gas rescue Europe?

“ONE CARGO of LNG heats 1m people in Europe for a month,” beams an employee of Cheniere, America’s biggest exporter of liquefied natural gas, pointing to a specialised vessel docked at its huge export terminal in Corpus Christi, Texas. The firm has poured $17bn into the facility and in October held a groundbreaking ceremony to mark an additional $8bn expansion. More lng sets sail from Cheniere’s even bigger plant in Louisiana.

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When Donald Trump’s administration vowed in 2019 to spread “freedom gas throughout the world”, it sounded like overwrought rhetoric. Now, especially to European ears, it sounds mellifluous. Russia has choked off supply in response to Western sanctions imposed after its invasion of Ukraine. Although current prices have come down from their peaks, thanks in part to mild…

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This article was written by and originally published on www.economist.com