European countries are forecast to source 80% of their liquefied natural gas supplies (LNG) imports from the US by 2028, deepening their reliance on LNG which threatens energy security, and posing risks for exposure to high gas prices and new forms of supply disruption, researchers at the Institute for Energy Economics and Financial Analysis (IEEFA) said in a report released on Wednesday.
The ongoing energy crisis has increased Europe’s reliance on liquefied natural gas from the US, which is on track to supply two-thirds of the continent’s imports of the fuel in 2026, the IEEFA report highlights.