Russia Surpasses the U.S. in Gas Exports to Europe

Russia has outpaced the United States in gas exports, according to the Financial Times. Citing data from the consulting firm ICIS, the publication notes that in September 2022, the U.S. had overtaken Russia in gas supplies to Europe. However, by May 2024, Russia has reclaimed its top position.

In 2023, the U.S. accounted for 20% of gas imports to Europe, but in 2024, deliveries of liquefied natural gas from the U.S. have dropped to 14%, while Russia has increased its share to 15%.

Nonetheless, Tom Marzek-Mansur, head of the gas market analysis department at ICIS, warned that Russia is unlikely to maintain its leading position due to sanctions and the ongoing development of liquefied natural gas production in the United States.