Freezing Out: The Unforeseen Downturn in US LNG Exports to Europe

Last August, European Union countries increased the purchase of liquefied natural gas from American companies by 18% compared to last July, but sales revenues, on the contrary, decreased by 5% to $753.6 million, the lowest level since November 2021, when the United States earned $691.6 million from Selling liquefied natural gas to the European Union.

The Netherlands remains a major supplier of US LNG, buying a quarter of all supplies. At the same time, at the end of last summer, the Netherlands increased purchases by 18%. The second and third places on the list of the three largest suppliers of American gas in Europe go to Spain ($126.4 million) and Italy ($108.1 million).

In contrast to previous months, US revenues decreased in all regions that supply it with natural gas. The largest decline was recorded in Africa, where gas exports fell by 3.2 times to $51.2 million.

As for Asian consumers, they reduced imports of liquefied natural gas from the United States last August by 5% to $989 million. In Central and South America, sales fell 9% to $231.9 million. Supplies to consumers in North America remained low at $1.2 million.

Overall, US exports of liquefied natural gas decreased by 9% during the month to $2.14 billion.

Source: Novosti

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