Nov 14, 2024 (MENAFN via COMTEX) --
(MENAFN) Serbian President Aleksandar Vucic predicted on Tuesday that nations that have banned Russian natural gas may soon find themselves pleading with Moscow to resume supplies, especially if the U.S. halts its liquefied natural gas (LNG) exports. Speaking at the UN Climate Change Conference in Baku, Azerbaijan, Vucic suggested that within three to four years, the U.S. could entirely stop LNG shipments to meet its own rising energy demands, driven by the growing use of artificial intelligence and the rapid expansion of electric vehicle charging stations.
Vucic warned that if this happens, countries that cut off Russian gas would be forced to line up in front of Moscow, asking for gas to survive the winter. His comments came after the U.S. presidential election, where he noted that oil prices had dropped, while gas prices had increased.
Following the escalation of the Ukraine conflict in 2022, the European Union moved to ban Russian pipeline gas and replace it with more expensive LNG. The U.S. has become the EU's largest LNG supplier, accounting for nearly half of the EU's total imports, a volume that has tripled since 2021, according to European Council data.
Russian President Vladimir Putin previously criticized the EU's decision to reject Russian gas, accusing European leaders of making "ill-considered" and "politicized" decisions that harm their own interests and benefit the U.S. economy. He pointed out the contradictions in EU policies, where environmental goals are undermined by restarting coal plants to mitigate the energy crisis caused by the rejection of Russian gas.
The *Financial Times* raised concerns last week that the EU's shift to LNG could endanger the bloc's energy security this winter, with analysts warning that even minor supply disruptions could lead to severe problems.
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