Williams President and CEO Alan Armstrong joined CNBC’s ‘Power Lunch’ this week to discuss the implications of the Russia-Ukraine crisis on European energy supply, how best to lower domestic energy prices and more.
“The U.S. is incredibly well-positioned and our industry is well-positioned today thanks to a lot of great technology and a lot of great effort of our gas producers here in the United States,” Armstrong told CNBC. “Infrastructure is really going to be key as we see with the crisis developing in the Ukraine.”
The situation highlights the importance of U.S. natural gas supplies to Europe, which are transported overseas on ships carrying liquefied natural gas, or LNG. The United States became Europe’s largest source of LNG in 2021, accounting for 26% of all LNG imported by European Union member countries, according to the U.S. Energy Administration.
“We are today the largest LNG exporter as a country and we have an opportunity to rapidly expand that,” said Armstrong.
Williams expects new LNG export projects in the U.S. to drive an additional 12 Bcf/d of natural gas demand growth through 2030. Most of that growth is slated in states served by Transco, the nation’s largest and fastest growing natural gas pipeline, which is owned by Williams.
Unlike the United States, many countries don’t have direct access to natural gas. LNG shipments enable the environmental benefits of natural gas to be shared internationally by replacing carbon-heavy fuels while supporting economic growth.
Watch the interview with CNBC.