Why Africa Eyes Greater Energy Exports to Europe After Russia Ban 2023 Europe Energy Crisis Africa

Adolf Goebbels
Published on Apr 25, 2023
Europe energy crisis since Russia invasion of Ukraine has drove up energy prices across Europe which also affected the economy of most countries around the world. The united states of American is supplying Europe for liquefied natural gas LNG but this could cause agricultural subsidy challenges with the European union. Several European union countries like German, France, Netherland and Belguim including Spain have all signed oil and gas deals with African countries like Nigeria, Angola, Tanzania, Mauritania, Cameroon and Egypt to supply natural gas. Nigeria is Africa largest oil and gas supplier which sometimes has not met the OPEC quotas required for production. Energy prices has started coming down in some European countries despite the war in Ukraine going to more than one year anniversary. Russia has made deals with India and China to supply oil and gas to these countries, European countries have now found alternative supplier to consistently supply European countries. Previously, European countries were investing more in Green energy and solar power energy generation, with the war in Ukraine everything changed. The European parliament ban the importation of oil and gas and from Russia. This bank on Russian fossil fuel has make several countries in the Eurozone to look for their energy from other countries. How American energy helped Europe best Putin. Moscow bet its energy shipments to Europe would stifle the opposition to its invasion of Ukraine. Instead, it sparked a backlash that has dramatically altered global trade U.S. companies provided 50 percent of Europe's liquefied natural gas supplies in 2022, along with 12 percent of its oil. Russian oil and gas shipments to the continent have shriveled by half, beset by boycotts, sanctions and an EU price cap. Instead, a flow of American energy has given the United States a growing role in the continentâ€™s economy, while pushing Russia to the side. Europe was the main destination for U.S. LNG exports in 2022.
#europe #africa #energy
U.S. exports of liquefied natural gas (LNG) averaged 10.6 billion cubic feet per day (Bcf/d) in 2022, increasing by 9% (0.8 Bcf/d) compared with 2021, according to our Natural Gas Monthly. The increase in U.S. LNG exports was driven by strong LNG demand in Europe, high international natural gas prices, and expanded U.S. liquefaction capacity. U.S. LNG exports to Europe increased 141%, or 4.0 Bcf/d, compared with 2021. Several European banks refuse to fund energy exploration in African countries because of green energy, but China was investing heavily in Nigeria energy and infrastructure over the years and has invested over $16billion dollars into Nigeria oil and gas projects. Best Places to Visit in Africa, Victoria Falls, Tanzania, Zanzibar, Serengeti National Park, Mauritius, Cairo, Masai Mara National Reserve, Cape Town, Kruger National Park, Seychelles, Marrakech, Madagascar, Botswana, Luxor, Namibia. 15 Top-Rated Tourist Attractions in China, The Great Wall of China, The Forbidden City & the Imperial Palace, Beijing, The Terracotta Army, Xi'an, The Summer Palace, Beijing, Cruising the Li River, Guilin, Chengdu Research Base of Giant Panda Breeding, Sichuan, The Yangtze River and the Three Gorges, The Classical Gardens of Suzhou, Jiangsu, The Potala Palace, Tibet, Shanghai's Promenade: The Bund, Hangzhou's Historic West Lake, The Mausoleum of Light: The Northern Imperial Tomb, Shenyang, Leshan Giant Buddha, Sichuan, The Hong Kong Skyline, Zhangjiajie National Forest Park, Hunan. China. Statue of Liberty, Central park, Rockefeller Center & Top of the Rock Observation Deck, Metropolitan Museum of Ar, Broadway and the Theater District, Empire State Building, 9/11 Memorial and Museum, high line, American Museum of Natural History, Brooklyn Bridge, Time square, Fifth Avenue, Grand Central Terminal, Lincoln Center, One World Observatory, New York Public Library. Best Places to Visit in Europe, Paris, London England, Rome, Florence Barcelona, Swiss Alps, Prague, Amsterdam, Venice, Athens, Vienna, Madrid, Santorini, Dublin, Cyprus, Lake Como, Stockholm, Budapest, Berlin, The Azores, Lisbon, Amalfi Coast, Edinburgh, Munich, Copenhagen, Rotterdam, The Hague, Brussels

U.S. LNG exports to Europe (the European Union [EU-27] plus the United Kingdom) increased as a result of both natural gas supply challenges in Europe after Russia's pipeline exports to the region declined to 40-year lows and higher prices at Europeâ€™s natural gas trading hubs relative to other LNG markets. Europe became the primary destination for U.S. LNG exports in 2022, accounting for 64% (6.8 Bcf/d) of total exports. Four countriesâ€”France, the U.K., Spain, and the Netherlandsâ€”accounted for a combined 74% (5.0 Bcf/d) of U.S. LNG exports to Europe. U.S. companies provided 50 percent of Europeâ€™s liquefied natural gas supplies in 2022, along with 12 percent of its oil. Russian oil and gas shipments to the continent have shriveled by half, beset by boyco