Study: US LNG has potential to help Europe strengthen energy security
Wednesday, October 5, 2022
A new analysis of Europe’s natural gas market, released by the American Petroleum Institute and the International Association of Oil and Gas Producers, highlighted the potential of U.S. liquified natural gas to help Europe strengthen its energy security, according to World Oil.
In its study, Rested Energy found new long-term supplies from abundant and affordable resources could fully replace Russian natural gas and rebalance the European market despite a challenging short-term outlook.
The study concluded that the U.S. will need to expand its LNG export capacity and the EU will need to expand its import capacity over the next several years to meet their shared energy security commitments.
Learn more: World Oil > U.S. LNG to meet Europe’s energy needs in short and long term
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.