<\/p>\n
Europe\u2019s reliance on natural gas from the US is expected to surge to a record this year as the country helps offset supplies lost from the Middle East, according to an energy think tank.<\/p>\n
Europe may get two-thirds of its liquefied natural gas from the US, a larger share than ever before, the Institute for Energy Economics and Financial Analysis said in a report. America might even leapfrog Norway, currently Europe\u2019s biggest piped-gas supplier, in terms of total gas share.<\/p>\n
In the years since Russia\u2019s 2022 invasion of Ukraine, the European Union has sought to diversify its sources of gas to avoid heavy dependence on one single supplier. Seaborne deliveries of American LNG have proven a crucial replacement for piped flows from Russia, but some European officials have warned that the continent risks swapping one over-reliance for another.<\/p>\n
Increased exposure to the volatile global LNG market also leaves the EU vulnerable to soaring prices at times of geopolitical turmoil, such as during the current war in Iran.<\/p>\n
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\u201cLNG has become the Achilles\u2019 heel of Europe\u2019s energy-security strategy, leaving the continent exposed to high gas prices and to new forms of supply disruption,\u201d said Ana Maria Jaller-Makarewicz, lead energy analyst for Europe at IEEFA.<\/p>\n
Norway became Europe\u2019s largest piped-gas provider after Russian flows dwindled amid the war in Ukraine. But Norwegian supply is largely maxed out, while growth in the US continues. Norway accounted for 30% of the EU\u2019s total gas imports in the first quarter, while the US was hot on its heels at 29%.<\/p>\n<\/p>\n
Overall gas supplies from the US to the EU could exceed those from Norway if Qatari LNG producers face a prolonged outage from the Iran war, Jaller-Makarewicz said.<\/p>\n
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Last year, the US accounted for about 58% of all LNG imports into the EU, the UK and Turkey, and that share increased to 63% in the first quarter of this year, according to IEEFA. The EU alone may source 80% of its LNG imports from the US by 2028, the report showed.<\/p>\n
Russia also continues to send LNG to Europe, even supplying record volumes in the first quarter, though a full EU ban on the Russian fuel is due to come into force at the start of next year.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Iran #war #reliant #gas #IEEFA<\/p>\n","protected":false},"excerpt":{"rendered":"
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