European companies need to step up and commit to long-term gas supply agreements if the continent wants more help with its energy needs, said executives from US liquefied natural gas project developer Gulfstream LNG and Norway’s Equinor.

If it doesn’t act soon, Europe could face a supply shortfall and risk its own long-term energy security because Chinese companies are signing their own long-term deals with US LNG businesses – and Chinese demand is expected to “soak up” most of their supply, executives said at the Flame LNG and gas conference in Amsterdam this week.