London/Washington, DC CNN —President-elect Donald Trump is set to overturn a ban on some US exports of liquefied natural gas, or LNG, in a boon for US energy producers.
The final decision on additional LNG exports is “in the hands of the next administration,” Energy Sec.
Europe’s energy makeoverBefore Russia launched its full-scale invasion of Ukraine in 2022, Russia was the European Union’s biggest supplier of natural gas.
When they do, they will contribute to broader downward pressure on European natural gas prices.
Natural gas prices soared in the wake of Russia’s invasion, which followed a rise in global demand for energy as economies reopened after Covid lockdowns.
Persons:
Donald Trump, Biden, Jennifer Granholm, Arathy Somasekhar, Massimo Di Odoardo, Wood Mackenzie, Di Odoardo, Di Odoardo, Francisco Blanch, Covid lockdowns, Blanch, Mario Draghi, ”, Laura Paddison
Organizations:
DC CNN —, LNG, ” Bank of America, US Energy Information Administration, Department of Energy, European Union’s, US, EU, Reuters, CNN, Capital Economics, Bank of America, European Central Bank, Blanch
Locations:
London, Washington, Europe, Russia, United States, Australia, Qatar, what’s, Ukraine, European, Norway, United Kingdom, Turkey, Moscow, Brussels, Austria, Hungary, Slovakia, Freeport, Texas, Coast