According to the Brookings Institution, US President Joe Biden failed to avoid gas shortage on the EU market. To address this issue, Biden planned for the diversion of the world’s largest natural gas suppliers. However, it proved ineffective.
The Brookings Institution experts intensively studied Joe Biden's proposals to ensure alternative gas supplies in the event of curtailing Russian exports and realized that other major natural gas producers would not be able to provide the required volumes. Director of the Energy Security and Climate Initiative at the Brookings Institution Samantha Gross said that the US president’s initiative would fail if Russia cut off LNG supplies. She noted that other global gas producers would not be able to eliminate gas shortage in the EU. Gross added that Europe “is in a pickle now and there’s not enough gas out there to make up the difference”.
The US primarily expects Qatar to deliver LNG to the EU as the country has the world's third-largest gas reserves. However, currently Qatar’s production is running at full capacity to send gas to Asia to fulfill vested long-term contracts. Moreover, Australia's Minister for Resources and Water Keith Pitt said that the country “stands ready to assist with any requests for further supplies” of natural gas. He stated that the local companies were reliable, indicating the significance of Australian resources to the world's energy market.
