Europe's Dependence on US Gas Hits Record High

The United States now supplies about 60% of Europe’s total liquefied natural gas (LNG) imports, a level close to the highest on record. In April, the share rose to roughly 64% after the closure of the Strait of Hormuz disrupted supplies from Qatar and the United Arab Emirates. Since Russia’s invasion of Ukraine in 2022, the U.S. share has increased by about 20 percentage points as Europe replaces Russian pipeline gas with American LNG. Overall, the United States accounts for 26% of the EU’s total gas imports, including both LNG and pipeline gas, making it the second-largest supplier after Norway. With Europe seeking to fill its gas inventories before winter, reliance on U.S. gas is expected to grow further, tying the continent’s energy security directly to America.