Europe’s US LNG Imports Forecast to Reach 80% by 2028 as Russian Supply Phase-Out Accelerates

Muscat: European countries are expected to source 80 percent of their liquefied natural gas (LNG) imports from the United States by 2028, the Institute for Energy Economics and Financial Analysis said in a report today, warning of the risks of heavy reliance on a single energy supplier. According to Oman News Agency, the United States is on track to become the largest supplier of total gas - both LNG and pipeline - to Europe this year (2026). The US is expected to provide two-thirds of Europe's LNG needs in 2026, up from about 58 percent of EU imports last year. The steady rise in US gas purchases, which more than tripled between 2021 and 2025, is part of the EU's plan to phase out Russian gas supplies. The EU has banned short-term Russian gas contracts, with a full ban on LNG by January 2027 and on pipeline gas by September 2027. Nevertheless, EU imports of Russian LNG rose 16 percent in the first quarter of 2026 compared with the same period in 2025. The institute urged European member states to boost i nvestment in renewable energy and heat pumps to reduce oil dependency and limit exposure to sharp price swings driven by regional geopolitical tensions.