In the first half of this year, the United States emerged as the region’s largest LNG supplier, delivering about 45 percent of Europe’s LNG consumption. This shift was highlighted by analysts and reported by industry observers who noted that American shipments played a pivotal role as European buyers reduced their reliance on traditional pipeline gas from other regions.
As European stocks and buyers continued to diversify away from pipeline gas from Russia, LNG imports rose noticeably. Analysts observed an increase from 66.4 million tonnes to 70.8 million tonnes in the first half of the year. The United States claimed the top spot among suppliers, sending roughly 31.5 million tonnes to European markets. Other significant suppliers included Russia with around 9.5 million tonnes, Qatar with about 7.9 million tonnes, Algeria with 5.4 million tonnes, and Nigeria with 4.1 million tonnes. This broader supplier mix reflects Europe’s ongoing strategy to diversify energy sources amid geopolitical and market pressures.
Industry analysts, including energy market experts, expect that Russia will not impose a ban on LNG shipments to Europe within the next two years. The global LNG market is anticipated to stay open through 2023 and 2024 due to rising demand and the limited pace of new capacity coming online during this period. This dynamic supports continued liquidity in LNG markets and gives European buyers time to adjust contracts and pricing to changing supply conditions.
Historical patterns point to a gradual shift in LNG flows. While shipments to Europe have surged, LNG supplies from Russia are projected to increase more notably in 2024 and beyond toward other large markets, including India. Price movements in crude oil have historically influenced LNG economics, and recent periods have seen oil prices retreat to lower levels, which can affect fuel substitution dynamics and LNG project economics. These trends together shape the near-term outlook for energy buyers across North America and Europe, with prices and policy choices continuing to influence procurement decisions.
From a regional perspective, the North American market remains tightly connected to global LNG developments. Canadian and American buyers continue to monitor global supply availability, shipping schedules, and a capacity expansion pipeline that can alter per-month inflows. In this context, LNG is increasingly viewed as a flexible option that complements traditional gas channels, helping European customers secure more stable gas supply during periods of price volatility and supply disruption. The evolving mix of suppliers underscores the importance of robust infrastructure, diversified sourcing, and long-term purchasing strategies for large consumers across the Atlantic basin.