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illuminem summarizes for you the essential news of the day. Read the full piece on POLITICO or enjoy below:
🗞️ Driving the news: President Joe Biden's pause on new LNG projects raised concerns in Europe, but U.S. Deputy Energy Secretary David Turk assured that current LNG deliveries and ongoing constructions will continue unaffected
🔭 The context: The halt on approvals is intended to address climate concerns ahead of the U.S. elections, but Europe increasing dependency on U.S. LNG to replace Russian gas amid the ongoing conflict in Ukraine breeds a potential source of crisis for the continent
🌍 Why it matters for the planet: The U.S. decision reflects a balance between maintaining energy exports and reassessing environmental impacts, aligning with broader climate goals such as France's 2050 carbon neutrality target
⏭️ What's next: The U.S. will resume reviewing LNG project applications once the climate and environmental analysis is updated, ensuring future exports meet both supply and sustainability criteria
💬 One quote: "It doesn't impact any of the LNG currently being exported," said U.S. Deputy Energy Secretary David Turk
📈 One stat: U.S. LNG exports to the EU now constitute half of the bloc's LNG supplies, up from a quarter before the Ukraine war
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