NEWS

For years, U.S. gas companies looking to export liquefied natural gas dreamed of a booming Asia. Now, with demand there falling and the first shipment weeks away, Europe has emerged as an unlikely savior.

European gas production is down and countries there want to get more of the heating and power plant fuel from places other than Russia –- a major supplier, but one that’s brought plenty of headaches.

“It’s going to make a lot more sense for the U.S. gas to flow into the European market,” said Jason Bordoff, director of Columbia University’s center on global energy policy. “European energy security” comes from having “a diversity of supply,” he said.