LNG Dispute Highlights Supply Vulnerability

Last year, when the European Union found itself in a position to urgently find a replacement for pipeline Russian gas, U.S. LNG producers were hailed as saviors. Dozens of tankers with superchilled liquid gas began arriving at European ports and, from there, into storage for the winter. Just a few months later, the saviors turned, in the eyes of the buyers, into selfish, greedy profit-chasers.

Now, an LNG dispute is threatening to turn into an international problem. A very big one. For Europe last year, the U.S. LNG industry was pretty much a godsend—despite…