Most American gas has been going to Asia, where buyers have been more generous with prices. U.S. LNG has never been particularly competitive in most of Europe because of the availability of pipeline gas. Asia’s insatiable appetite for energy and its willingness to pay a premium for U.S. LNG because of the lack of major pipeline supplies, it is likely to remain as the ultimate market for U.S. LNG. U.S. shale drillers appear to be worried about losing market share in Europe to Russia, Bloomberg reported last week, citing data from a Kansas Fed survey. But this worry may be more of a hypothetical than actual problem. “Associated gas will increase as the U.S. shale drilling ramps up in future years,” an executive from the oil and gas industry told the Kansas Fed. “European demand will be further satisfied from Russian supply, reducing the U.S. market share.” Yet most […]