Europe more than doubled its purchase of liquefied gas from the US.
Last year, the export of American liquefied natural gas to Europe increased to 117.4 million cubic meters, almost 2.5 times more than the previous year (47.8 million cubic meters).
As noted by the White House, supply disruptions “related to Russia’s full-scale invasion of Ukraine” significantly affected US energy exports, especially LNG and crude oil, whose supplies to China have decreased. Research shows that China’s reduction in US energy imports will likely shift to imports from other sources, including Russia, coupled with falling demand due to slower economic growth.
In general, for 2022 the export of liquefied gas from the US increased to 181.9 million cubic meters. Oil exports to Europe increased from 400 million barrels in 2021 to 552.5 million. Supplies to China fell by half – from 176 million barrels to 95.4 million.