US LNG exports jumped 23%, but Europe gained almost nothing extra from them

The United States exported approximately 962 TWh of liquefied natural gas (LNG) in the first half of 2026, up 23% year on year. The value of exports reached approximately EUR 23 billion. New liquefaction capacity helped meet increased demand for supplies to Asia in particular, while volumes headed to Europe remained almost unchanged.

According to the US Energy Information Administration (EIA), LNG exports averaged 17.4 billion cubic feet per day in the first six months of this year. In energy terms, this is equivalent to approximately 5.3 TWh per day, or a total of 962 TWh for the half-year. Growth was driven mainly by the start-up of the Plaquemines terminal and the expansion of Corpus Christi. The new Golden Pass terminal also began exporting in April.

New capacity, however, explains only part of the increase. The EIA notes that the disruption to shipping through the Strait of Hormuz in March affected approximately one-fifth of global LNG supplies, primarily from Qatar. Asian buyers therefore sought replacement cargoes, boosting their interest in US gas.