Europe Imports Record Amounts of U.S. LNG

June 15, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Even before Russia's invasion of Ukraine, red flags were being raised over Europe's natural gas sector, as large drawdowns in late 2021 and early 2022 caused the U.K. and European Union (EU) to move into 2022 with low reserves.

But there seemed to be a sunnier side. Europe appeared to have plenty of liquefied natural gas (LNG) regasification capacity to spare, and the Nord Stream 2 natural gas pipeline from Russia to Germany was nearing completion. After the invasion and consequent sanctions on Russia's energy products (along the refusal to ship gas on Nord Stream 2), things don't appear quite so rosy--except perhaps for U.S. and other natural gas and LNG producers, who have seen the further opening of a lucrative market in Europe.

Companies featured: Sempra Energy (NYSE:SRE) and Dominion Energy Incorporated (NYSE:D)