Ribera warns against Europe's over-dependence on US natural gas

SEATTLE (Oil Monster): The European Commissioner for Competitiveness, Teresa Ribera, has warned against Europe becoming overly reliant on American natural gas imports.

In an interview with RTE Radio on Tuesday, European Commission Vice-President Teresa Ribera stated that while Europe cannot trust Russian gas, it must also be cautious not to become too dependent on US gas supplies.

Following Russia’s invasion of Ukraine, Europe replaced much of its Russian pipeline gas with liquefied natural gas (LNG) from the United States.

The EU also signed a trade agreement with the US, committing to purchase $750 billion worth of energy, including LNG, by 2028.

A previous report estimated that, without reducing its dependency, up to 80% of Europe’s gas imports could come from the US by 2030. Currently, this figure stands at 57%.

Energy Commissioner Dan Jorgensen similarly warned on Monday about the risks of trading one dependency—the reliance on Russian gas—for another.

 Courtesy: www.brusselstimes.com