WASHINGTON, Feb 13 (Reuters) - President Joe Biden's decision to pause approvals of new exports of liquefied natural gas will have no affect on U.S. supplies to Europe over the next two or three years, a European Commission official said on Tuesday after meeting U.S. officials.
"What was of course very important for me, was reassurance that for the next two or three years there should be no impact whatsoever on the supply of U.S. LNG to Europe," European Commission Executive Vice President Maros Sefcovic told a meeting at the Atlantic Council in Washington.
Russia has been a large oil and gas supplier to Europe, but since Moscow invaded Ukraine in February 2022, Europe has undergone "one of the most fundamental energy shifts since the 1970s," Sefcovic said. Europe cut imports of Russian gas from 150 billion cubic meters to a bit more than 40 bcfm, thanks largely to U.S. LNG supplies.
The U.S. should be able to accommodate big demand from Europe in coming years, Sefcovic said, adding Biden's order contains an emergency clause should supplies in U.S. allies and partners be in danger. The U.S. took the reins as the world's largest LNG exporter last year. Its LNG exports are expected to double by 2030 on already-approved projects.
Still, Sefcovic said the U.S. is now the "global guarantor of energy security" and its responsibility goes beyond Europe. Southeast Asia, India, Latin America and Africa need gas supplies to phase out reliance on coal a high-carbon fuel, he said.
Sefcovic said he told officials from the White House and Departments of State and Energy it was important how the U.S. government approaches its responsibility for global energy security.
He said Biden's LNG pause, which could last until after the Nov. 5 election, sent a "ripple effect all over the world." But that has stabilized recently on the assurances that U.S. supplies on already-approved projects are booming, he said. (Reporting by Timothy Gardner)
