Europe’s Insatiable Thirst For LNG Is Causing Blackouts In Developing Countries

In June, the European Union imported more liquefied natural gas from the United States than pipeline gas from Russia for the first time ever.  The unprecedented shift came as the EU scrambled to fill up its gas storage facilities ahead of the next heating season in fear Russia could turn off the gas tap at any moment.

It also pushed LNG prices sky-high, making it unaffordable for developing countries. "Because of the Ukraine war, every single molecule that was available in our region has been purchased by Europe, because they're trying to…