Energy companies must figure out vague LNG plan

The U.S. and the European Union are pushing to boost supplies of liquefied natural gas to European countries by the end of 2022 in a bid to displace some Russian gas, a political framework that leaves companies to sort out the details. American LNG shippers and German buyers are set to meet this week in Berlin to hash out possible deals.

Under the agreement, Europe will get at least 15 billion cubic meters of additional LNG supplies by the end of the year, though it’s not clear where it will come from. Member states will also work to ensure demand and facilities to take in up to 50 billion cubic meters of American fuel until at least 2030. The aim is to help the continent wean itself off Russian gas, which accounts for about 40% of Europe’s needs.