Chevron in talks to extend LNG supply to Europe for 15 years

Chevron is in talks to extend a variety of contracts to supply European countries with liquefied natural gas (LNG) for a period of 15 years.
Europe’s demand for external sources of LNG grew rapidly following the Russian invasion of Ukraine, leading to a flurry of short-term supply deals initially signed in 2022.
The International Energy Agency warned in October that Europe’s non-Russian LNG supply still remains below pre-war levels, and a particularly harsh winter could result in energy shortages and increased energy production from coal -fired power plants.
Chevron’s discussions to extend existing LNG contracts could pave the way for further increases in U.S. LNG exports to Europe, facilitating the continent’s transition away from Russian fossil fuels.

Link to the original story: https://www.ibtimes.com/chevron-reportedly-discusses-15-year-extension-european-lng-supply-3717438