3.1 C
New York
Friday, December 2, 2022

U.S. gas at $4-$5 is a thing of the past, says Tellurian chairman

U.S. gas at - is a thing of the past, says Tellurian chairman
© Reuters. Charif Souki, CEO of Tellurian, speaks at a news conference at the CERAWeek Conference by S&P Global, in Houston, Texas, U.S. March 9, 2022. REUTERS/Nathan Frandino

 

NG
+5.39%

Add to/Remove from Watchlist

Add to Watchlist

Add Position

Position added successfully to:

Please name your holdings portfolio

Type:

BUY
SELL

Date:

 

Amount:

Price

Point Value:

Leverage:

1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000

Commission:

 

Create New Watchlist
Create

Create a new holdings portfolio
Add
Create

+ Add another position
Close

TELL
+4.58%

Add to/Remove from Watchlist

Add to Watchlist

Add Position

Position added successfully to:

Please name your holdings portfolio

Type:

BUY
SELL

Date:

 

Amount:

Price

Point Value:

Leverage:

1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000

Commission:

 

Create New Watchlist
Create

Create a new holdings portfolio
Add
Create

+ Add another position
Close

By Marwa Rashad

LONDON (Reuters) – The chairman of liquefied natural gas (LNG) company Tellurian (NYSE:TELL) Inc, Charif Souki, on Tuesday said that cheap U.S. gas is a thing of the past and the only solution for Europe’s energy crisis is to invest in U.S. gas infrastructure.

“Getting (U.S.) gas in the water for $4-$5 is something of the past; if you really want to justify an investment … you have to think of $10-$12,” Souki told the Energy Intelligence Forum in London.

Souki said investment in U.S. LNG projects could be Europe’s one option to solve the energy crisis sparked by Russia’s invasion of Ukraine, with Russian gas supplies to Europe having plunged since the start of the war.

“Europe will be spending $500 billion to $600 billion in subsidies for their consumers. For a fraction of that price, you could secure long term gas reserves from the Unites States,” he said.

“There are $100 billion of liquefaction projects in the United states that are permitted but have not been able to obtain financing …You have to make investments if you want to control the resource.”

The United States has been the biggest supplier of the seaborne fuel to Europe this year, with U.S. cargoes representing more than 70% of Europe’s Jan-Sept LNG imports.

Source: Investing.com

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

11,282FansLike
12,893FollowersFollow
744FollowersFollow
- Advertisement -

Latest Articles

Popular Articles