North American natural gas can help alleviate the energy crisis

North America’s abundant natural gas resources can meet three challenges facing the global energy industry today, including tackling high prices, energy security by exporting gas to Europe , reducing reliance on Russian gas, and third, replacing high-emitting forms of energy to help drive the decarbonization effort forward.

Building more pipelines means greater accessibility and availability, helping to lower gas prices. High prices often stem from the fact that there are regulatory issues surrounding the construction of gas pipelines, which means that supply is low. New pipelines can help prevent price inflation and can also be repurposed for renewable energy in the future as global energy needs change.

Due to the war in Ukraine and its socio-economic impact in all countries, there has been a reduction in the Russian gas pipeline supply to the EU, which means that energy security is at stake.

Europe is implementing measures to enhance energy security by diversifying away from Russian imports of piped gas, which may, in turn, lead to growing dependence on natural gas resources in the EU. North America.

Workable long-term contracts will need to be struck between European countries and the US, if US LNG is to help reduce dependence on Russia for gas exports.

Natural gas could help distract attention from higher-emission forms of energy, such as coal, in the short to medium term. Due to increased gas supply in the United States, electricity emissions have fallen by approximately 18% over the past 10 years or so, resulting in a decline of 4.2 GtCO2. As the world moves towards the goal of carbon neutrality, natural gas can serve as a transitional energy source, contributing to the rapid phase-out of coal.

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