US ready to fully replace Russian gas in Europe, says energy secretary

U.S. Energy Secretary Chris Wright believes that the United States can fully replace Russian natural gas in Europe, the Greek news outlet Capital says.

The American official made this statement at “The Partnership for Transatlantic Energy Cooperation” (P-TEC) conference being held in Athens.

During an opening discussion with Greece’s Minister of Environment and Energy, Stavros Papastavrou, Wright expressed the view that the United States is “ready to completely replace Russian natural gas” in Europe, noting that “Greece is an ideal import point for American LNG.”

“The United States has been an ally of Europe from World War II through the Cold War. The world still runs on oil, gas, and coal — we have to seek alternatives, but today these sources are cheaper and more accessible. We have an abundance of natural gas and the capacity to supply it to Europe, provided that the necessary infrastructure is in place,” he said.

According to the U.S. secretary, it is “vital to eliminate Russian gas from Europe.” Wright noted that “Moscow has only two pipelines — one to Europe and one to China, and every cubic meter that does not reach Europe stays in the ground, since the pipeline to China is already full.”

“We want to see Europe with abundant and affordable energy sources. Let’s work together to achieve that goal,” the official added.

Papastavrou agreed on the need to strengthen energy cooperation, emphasizing that “there is a major difference in energy prices between northern and southern Europe.”

“We are making every effort to strengthen networks and infrastructure, because it is unfair to speak of a single energy market when prices are higher in some countries and lower in others,” he said, citing electricity and gas markets as examples.

In response, Wright noted that “a similar phenomenon exists in the United States: California, though a region with great potential, has the highest electricity prices due to misguided energy policy.”

The U.S. secretary stressed that “the shale revolution turned the United States from the world’s largest importer into its largest exporter of gas.”

“The abundance of American gas has reduced electricity costs by $2,000 per household,” Wright claimed.

At the end of the discussion, the U.S. official also focused on nuclear energy, saying that “it has a future thanks to new small and safe reactor technologies” and that “its development must continue.”

By Khagan Isayev