US, Russian share of Europe’s LNG imports soars to record 80%

Europe’s dependence on liquefied natural gas (LNG) from the US and Russia surged to an all-time high in January, with the two countries accounting for more than 80% of the continent’s total seaborne imports, Bloomberg reported on February 5.

According to data compiled by ship-tracking firm Kpler, the US supplied 55% of Europe’s LNG imports last month, while Russia contributed just over 25%. Europe imported a record 142bn cubic metres of liquefied natural gas in 2025, marking a 28% increase from the previous year.

The figures mark a significant increase from a year earlier, when the combined share of the two exporters stood at roughly 70%. The shift comes as Europe intends to ban imports of Russian gas completely by January 1, 2027. However, Europe remains Russia’s biggest customer for LNG, accounting for half of Russia’s annual production. Almost all of Russia’s exports to Europe come from the Novatek Arctic LNG production. For its part, Europe remains hooked on Russian gas imports, despite efforts to scale back imports. At the same time, Europe has swapped its dependency on Russian gas imports for a dependency on American LNG imports.

More recently, unsettled by the Trump administration’s Greenland annexation threats, the EU seeks to diversify away from US LNG dependency, but is struggling to find alternative supplies. Russia remained the fourth-largest supplier of natural gas to the EU in 2025, exporting nearly 38bn cubic metres despite ongoing efforts to cut imports. Imports have surged in recent months as a big freeze settles on the world, following the collapse of the polar vortex releasing icy air masses over northern countries and beyond.

The EU has banned most Russian crude and petroleum product imports, but Russian LNG remains exempt from sanctions, allowing Moscow to maintain and even expand its market share in Europe’s gas sector. The growth in Russian LNG imports has drawn criticism from some EU member states and environmental groups, who argue that it undermines the bloc’s geopolitical and energy security goals.

“We are replacing one form of Russian gas dependency with another,” said Anna Michalska, an energy analyst at the Centre for European Policy. “While LNG offers greater flexibility, the continued inflow from Russia highlights the lack of coherent long-term strategy.”

LNG imports from the US have soared since 2022, supported by high European prices and Washington’s efforts to supply allies with alternatives to Russian energy. The rise has made the US the world’s largest LNG exporter, surpassing both Qatar and Australia in 2023.

European buyers have remained active on the LNG spot market. Benchmark TTF gas futures fell nearly 60% in 2023, but forward contracts suggest buyers are hedging against potential supply disruptions or further geopolitical escalation.

Kpler data show that France, Spain and the Netherlands were the largest importers of Russian LNG in January, while major volumes of US cargoes were delivered to terminals in the UK, Belgium and Germany.

“We are focused on diversifying supply and strengthening our resilience,” a European Commission spokesperson said, but declined to comment directly on the rising share of Russian LNG.