Washington-Sana
At a time when US officials invoke the pretext of an alleged Russian attack with the aim of escalating the fabricated political crisis in Ukraine, the US energy industry has begun to reap huge profits from the new tensions, revealing a hidden dimension behind the fueling of the situation near the Russian borders, in which energy and gas markets play the largest role, according to a new analysis published by the newspaper American Wall Street Journal.
“While the Ukraine crisis has raised great concern about Europe’s dependence on Russian natural gas, something incredible has happened as US gas exports have grown,” said Daniel Yergin, an energy expert and vice chairman of IHS Markit. flowing to Europe for the first time in its history, bypassing the shipments of Russian pipelines, which usually represent more than 30% of Europe’s need for natural gas.”
Yergin stressed that the growth of oil and gas production in the United States is one of the country's geopolitical and economic assets, which allowed it to push Russian competitors out of the European market, noting that with the continued recovery of the oil and gas industry from the collapse in prices that occurred in the spring of 2020 due to the Corona pandemic, America has become again The largest oil producer in the world, as its production now exceeds by 20% its competitors Saudi Arabia and Russia, which is the largest producer of natural gas in the world.
In the context of his analysis, Yergin linked the success of the US oil industry and the escalation of the crisis in Ukraine, where he said: "There is no doubt today about the geopolitical importance of the new US oil and gas location. The Ukrainian crisis and the energy crisis in Europe shed light on the global impact of US oil and gas production."
Earlier, British Prime Minister Boris Johnson and US President Joe Biden indicated during a phone conversation the need to reduce European countries' dependence on Russian gas, and the United States had increased its shipments of liquefied natural gas to Europe in recent weeks, tempted by high prices, and last December saw 95 tankers headed Oil from the United States to Europe The American exports to Europe rose this winter by about 15 percent compared to what they were a year ago.
Follow Sana's news on Telegram https://t.me/SyrianArabNewsAgency
