© Reuters. Charif Souki, CEO of Tellurian, speaks at a information convention on the CERAWeek Convention by S&P International, in Houston, Texas, U.S. March 9, 2022. REUTERS/Nathan Frandino
By Marwa Rashad
LONDON (Reuters) – The chairman of liquefied (LNG) firm Tellurian (NYSE:) Inc, Charif Souki, on Tuesday mentioned that low-cost U.S. gasoline is a factor of the previous and the one answer for Europe’s power disaster is to spend money on U.S. gasoline infrastructure.
“Getting (U.S.) gasoline within the water for $4-$5 is one thing of the previous; when you actually wish to justify an funding … it’s important to consider $10-$12,” Souki informed the Power Intelligence Discussion board in London.
Souki mentioned funding in U.S. LNG tasks could possibly be Europe’s one choice to unravel the power disaster sparked by Russia’s invasion of Ukraine, with Russian gasoline provides to Europe having plunged for the reason that begin of the warfare.
“Europe might be spending $500 billion to $600 billion in subsidies for his or her customers. For a fraction of that worth, you possibly can safe long run gasoline reserves from the Unites States,” he mentioned.
“There are $100 billion of liquefaction tasks within the Usa which might be permitted however haven’t been capable of acquire financing …You must make investments if you wish to management the useful resource.”
The USA has been the largest provider of the seaborne gasoline to Europe this 12 months, with U.S. cargoes representing greater than 70% of Europe’s Jan-Sept LNG imports.
