EU signs gas deal with US, but hefty bill for European taxpayers
By GT staff reporters Published: Mar 25, 2022 09:54 PM
The European Union (EU) on Friday struck a major deal on liquefied natural gas (LNG) with the US, a move that will come with a hefty bill for European taxpayers, while huge profits for US LNG producers who have long been seeking buyers amid intense competition from Russia.
Observers said since the US LNG cannot cover the gap Russia gas has left in the short term, it's possible that some European countries may need to turn to other options such as coal to meet winter demand.
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