In October, the governments of Austria and The Netherlands warned of the risk of a âgreat blackoutâ. Soaring natural gas prices, lack of security of supply and a challenging outlook of pipeline deliveries from Russia made the governments exceedingly nervous about the chances of providing cheap and reliable energy for homes in winter.
However, an unexpected ally has prevented an energy crisis in Europe and, ironically, it is an ally that was banned in most European nations:Â Shale gas.
About half of the record U.S. Liquefied Natural Gas volumes shipped in December 2021 went to Europe, up from 37% earlier in 2021, according to the U.S. Energy Information Administration.
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