European LNG imports from the US are rising sharply as Europe replaces Russian pipeline gas with seaborne LNG, but new analysis argues the shift is creating fresh supply concentration risks rather than genuine energy diversification.
Europe is on track to source around two-thirds of its LNG imports from the United States in 2026, according to new data from IEEFA’s European LNG Tracker and EU Gas Flows Tracker.
The report argues that Europe’s move away from Russian pipeline gas has increased dependence on global LNG markets and left the region exposed to shipping disruptions, price volatility and geopolitical risk.
The analysis points to the 2026 Strait of Hormuz disruption as evidence that LNG imports do not necessarily guarantee energy security. Disruptions to Qatari LNG flows tightened global markets and reinforced Europe’s growing reliance on US LNG supply.
At the same time, Russian LNG imports into Europe reached record levels during the first quarter of 2026, despite ongoing efforts to reduce dependence on Russian energy. Russia remains one of the EU’s largest LNG suppliers, highlighting the complexity of Europe’s transition strategy.
The report also notes that Europe continues to expand LNG import infrastructure while simultaneously targeting a major reduction in gas demand under the REPowerEU plan.
According to the authors, reducing overall gas consumption through electrification, efficiency improvements and renewable deployment will ultimately provide greater energy security than simply replacing one external supplier with another.
Source: IEEFA
