Europe Can’t Rely on US Gas to Plug Growing Gap Next Year
- US LNG exports won’t be able to plug drop in Russian flows
- Filling European storage sites will be harder to do next year
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Europe has been able to plug the gap left by smaller Russian gas flows with US supplies, but those shipments won’t be able to keep up as the shortfall expands.
While US fuel now makes up 40% of Europe’s liquefied natural gas imports, it will only offset a fraction of the deficit from Russia next summer, BloombergNEF says. That means it’ll be harder to rebuild inventories next year when faced with a longer period without Russian gas.