The energy fever in the EU before the heating season is gaining momentum – in Europe they are puzzling over where to find alternative oil and gas suppliers to Russia.
America has promised assistance to European countries, but, according to analysts and market players, the possibilities of American exports are almost at the limit. Shale explorers cannot drastically increase production.
The US Department of Energy reported that 75% of US LNG goes to Europe, an average of ten billion cubic meters per month. Russia sent about 155 billion cubic meters to the EU in 2021.
However, experts note that overseas shale producers have already reached the ceiling and will not be able to increase production to compensate for the deficit when the EU embargo on Russian oil comes into force at the end of the year.
According to the American investment company Quantum Energy Partners, the export of LNG and oil to the European Union has almost reached the limit.
“The US is not able to produce more. There will be no help – neither with oil, nor with gas”, said Wil Wen Lo, head of Quantum Energy Partners.
Market players are talking about the same. The US has boosted energy supplies just to take advantage of high prices in Europe, said Scott Sheffield, chief executive of oil company Pioneer Natural Resources.
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