While Russia is being punished with economic sanctions from the U.S. and Europe, Louisiana’s heavy industry sector is waiting to see the effects those penalties will have on the state’s Liquefied Natural Gas market. The impact hinges on several factors, according to industry experts: (a) Whether the Nord Stream 2 pipeline from Russia to Germany has been shut down; (b) whether European buyers will abstain from Russian resources for Louisiana’s LNG; and (c) whether federal agencies might limit Louisiana LNG exports as part of the President’s push to reduce the impacts of climate change. The outcomes are hard to predict in the infancy of sanctions, but some experts contend Louisiana could be poised to see market gains should foreign demand for LNG increase over time. “Long-term, short-term, we wouldn’t know” (the impact of sanctions), Louisiana Economic Development Secretary Don Pierson told Advocate.com. “(S)trategically, to be this powerful energy resource for the globe, we anticipate that there will be great market opportunities across Louisiana for the export of liquefied natural gas for decades to come.” (Source: Advocate.com 02/24/22) A Louisiana LNG surge amid Russia-Ukraine fight? Only under these conditions, experts say | Business | theadvocate.com
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