Nearly three-fourths of all US liquefied natural gas has gone to Europe this year as the region moves away from Russian supply
- Europe recieved close to three quarters of the US's liquefied natural gas from January to April.
- The increased supply amounts to triple the 2021 average, Bloomberg reported.
Nearly three-quarters of the US's liquefied natural gas went to Europe from January to April so far this year, up from a third last year.
The new shipments triple the total amount of LNG exported to Europe in 2021, according to data from the Energy Department first reported Bloomberg.
The US now makes up close to half of Europe's liquefied natural gas supply, about double the share from 2021.
Europe, which has now overtaken Asia as the top market for US gas, is trying to wean itself off of Russian supply in light of its invasion of Ukraine.
President Biden promised to pick up the slack of liquefied natural gas as global powers condemn the Kremlin and move away from its energy. Europe had already been contending with an energy supply crunch, giving the US a large incentive to take of advantage of bigger profit margins.
The US has increased its overall output of liquefied natural gas in 2022, Bloomberg says, with production up 18% compared to 2021.