Will America Become the Saudi Arabia of Natural Gas?
The war in Ukraine and the breakdown of Europe’s longstanding energy ties with Russia are transforming the world market for natural gas. For now, Europe’s ability to secure alternative supplies depends on the United States’ willingness to take on a new global role that it may be reluctant to play.
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OXFORD – With images of Russian aggression and war crimes in Ukraine continuing to dominate the media in Europe and around the world, Germany has pledged to cut its imports of Russian gas by two-thirds by 2023. Even more immediately, Robert Habeck, Germany’s vice chancellor and minister for economic affairs and climate action, now talks of the country reducing its Russian oil imports by half by as early as this June.