The share of liquefied natural gas from the United States – the former export leader – in the European market fell to 14%.
In May, Russia overtook the United States for the first time in two years to become Europe’s largest gas supplier. Russian gas last month accounted for 15% of total supplies to the EU, the UK, Switzerland, Serbia, Bosnia and Herzegovina and North Macedonia. This is confirmed by data from the ICIS analytical center, reports the Financial Times.
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Russia exports gas to the European market through pipelines and tankers. The share of liquefied natural gas from the United States in the European market fell to 14%. Previously, the United States was ahead of Russia from September 2022, and from 2023, American gas accounted for almost a fifth of LNG supplies in the region.
ICIS analysts attribute the decline in LNG exports from the United States to a failure at a major liquefied gas export facility. At the same time, Russia increased gas exports through Turkey ahead of scheduled pipeline maintenance in June.
However, analysts believe that this trend is “unlikely to continue” as Russia prepares to supply more LNG to Asian countries. China remains its largest consumer, having purchased more than 6.8 million tons of LNG by the end of 2023. At the same time, total US LNG production is increasing, with more new capacity coming to the global market by the end of year.
Source: korrespondent
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