In 2025, US exports of liquefied natural gas (LNG) reached a record level of 111 million tonnes. This was the first time American shipments exceeded the threshold of 100 million tonnes per year. The increase was driven by very high utilization rates at existing terminals and the commissioning of new capacity, notably the Plaquemines LNG project in Louisiana. But the 2025 record appears to be only a milestone.
According to forecasts by the U.S. Energy Information Administration, US LNG export capacity could more than double by 2029, reaching 230–240 million tonnes per year. If these plans materialize, the United States will become the largest and most influential player on the global LNG market. In practical terms, this means that American supplies will determine the balance between supply and demand and therefore prices.
Gas prices in Europe could almost be cut in half
Consultancy Wood Mackenzie expects that the wave of new LNG projects, primarily in the United States and Qatar, will lead to a sharp increase in global supply. By 2030, this could almost halve gas prices in Europe compared with 2025 levels. For European industry, this is good news. According to WoodMac estimates, EU companies could save around 46 billion dollars per year on energy costs by 2032. This is a crucial factor amid declining competitiveness among European manufacturers and the partial relocation of production outside the EU.
The strategic goal of the United States: pushing Russia out
The rise of US LNG has not only an economic dimension, but also a political one. One of Washington’s key objectives is to push Russia definitively out of the European gas market. Despite a sharp drop in deliveries, Russia still exports 15–20 billion cubic metres of pipeline gas to Europe each year and maintains a presence in the LNG market. The expansion of US capacity creates conditions for increased pressure on these remaining volumes.
Europe changes its dependency, without eliminating it
After 2022, the EU actively reduced its purchases of Russian gas, turning instead to LNG. The main beneficiary of this shift has been the United States. By early 2026, American gas accounted for more than 57% of total EU LNG imports, up from 45% in 2024. Over time, this share could rise to 70–72%. Officially, Europe has diversified its supplies; in reality, dependency remains, having simply changed geography.
For the US economy, the LNG boom represents one of the largest industrial projects of recent decades. According to S&P Global, the development of the gas sector could, by 2040, add up to 1.3 trillion dollars to US GDP, generate around 166 billion dollars in annual tax revenues, and create nearly 500,000 new jobs. LNG is thus becoming a long-term source of growth, influence, and budgetary stability for the United States.
