Europe's US LNG import dominance declines

Europe's share of American liquefied natural gas (LNG) exports fell below 50% in June 2026 for the first time in nearly two years, as exporters shifted toward Asian markets instead of Europe due to higher gas prices there and weak European demand, despite the need to refill gas inventories ahead of the winter season. The average gas price in Asia was about $17.33 per million British thermal units, compared to $13.19 in Europe, leading to increased shipments to Asia. U.S. exports of gas also rose to 10.6 million metric tons in June, as demand in Europe declined and expectations of falling prices in the second half of the year grew. Egypt was among the largest buyers, importing approximately 1.06 million tons, while shipments also went to Asia and Latin America to compensate for supply shortages from other regions.

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