Europe Changes Its Energy Compass… American Gas Surpasses Russian Gas for the First Time

Europe is witnessing a radical shift in its energy landscape following the war in Ukraine, as its reliance on Russian gas has dropped to a historic low, while there is an unprecedented rise in liquefied American gas. The figures reflect a strategic transition that extends beyond energy, impacting political and economic balances within the continent.

The share of Russian gas in the European market has fallen to just 12.1%, down from 43.4% before the war. This decline reflects the collapse of traditional supply lines through pipelines, as Europe turns to more diverse alternative sources.

In contrast, the share of American gas has surged to 26.5% after being only 5.8% in 2021, making the United States the top supplier of liquefied gas to Europe, benefiting from the new infrastructure established by European countries over the past two years.

This change does not appear to be temporary, as Europe is heavily investing in LNG reception terminals and working to reduce its dependence on any single source, as part of a new energy policy aimed at enhancing security and minimizing geopolitical risks.