According to VYGON Consulting, in 2022, exports of US liquefied natural gas to Europe soared by 2.4 times. As a result, the US occupied more than 40% of the European gas market.
Estimates showed that in 2022, Europe’s purchases of US LNG increased by 2.4 times compared to 2021. Thus, the fuel supplies from the US reached a whopping 140.7%. Such measures were aimed to replace Russian gas.
Last year, the United States exported 51.5 million tons of gas to European countries, which accounts for 42.7% of the gas market. Analysts suppose that the US has become the main exporter of LNG to the region.
Qatar is the second supplier of gas to Europe. In 2022, it increased its gas exports by 19.5% to 18.4 million tons. Russia took third place, providing Europe with 15.8 million tons of gas, which stands for about 19.7% on a yearly basis. These countries accounted for more than 70% of European LNG exports.
Last year, Algeria and Nigeria were also among the gas suppliers to Europe (9 million tons and 8.3 million tons respectively). Egypt (5.2 million tons), Trinidad and Tobago (3 million tons), Norway (2.6 million tons), and some other countries also exported LNG to the European region.
According to Reuters, Russia supplied Europe with 17 million tons of liquefied natural gas last year, which is 20% more compared to 2021 volumes. Thus, Russia partially offset a steep decline in its pipeline gas exports.
Currently, the European Union has increased supplies of natural gas from various states. According to the EU High Representative for Foreign Affairs and Security Policy, Josep Borrell, this has allowed European countries to get rid of their energy dependence on Russia.
