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The EU’s mysterious Russian gas plan — and what it means for US LNG exports

  • Woodside Energy approved its Louisiana LNG export facility in April 2024, initiating over 90 million tonnes of new U.S. LNG capacity expansions.
  • This expansion supports the European Union’s ambitious goal, set in early 2024, to completely phase out reliance on Russian gas by the year 2027, creating an urgent need for alternative LNG supplies.
  • Multiple U.S. LNG projects, including expansions by Cheniere and Venture Global, face cost increases from tariffs, supply chain issues, and labor shortages.
  • Woodside’s Louisiana project costs rose by 31%, and U.S. LNG exports reached 88.3 million metric tons in 2024, up 4.5% from 2023, with Europe as the main destination at 55%.
  • The capacity growth could strengthen U.S. Energy security and economy, but a partial return of Russian gas may threaten about $120 billion in LNG investments.
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Financial Times broke the news in London, United Kingdom on Tuesday, May 13, 2025.
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