Climbing Natural Gas Prices Could Force U.S. To Slash Exports To Europe

Natural gas prices in the United States hit the highest in 14 years this week, with the Henry Hub benchmark temporarily topping $10 per million British thermal units. And demand is not going down anytime soon. The United States has emerged as the biggest supplier of natural gas to troubled Europe, as the latter first slipped into a gas crunch after demand outstripped supply last year. Then it slapped seven packages of sanctions against Russia—its main supplier—for its invasion of Ukraine. U.S. gas, liquefied and transported to the LNG…