Europe bought less than half of all U.S. LNG exports in June, the lowest share in two years, as Asian buyers paid nearly $4 more per mmBtu. This pullback complicates the EU's pledge to buy $750 billion in American energy over three years under last July's trade deal. The bloc heads into winter with its lowest gas storage in 15 years.
For two years, the European Union has been the biggest regional buyer of U.S. liquefied natural gas. However, last month, Europe shunned American liquefied gas because it was too expensive. This will be a problem for the trade deal that just went into effect.
The EU now faces a dilemma: whether to become overly dependent on a single gas supplier or to diversify its sources.
