Gas-dependent Europe is trading one energy risk for another. Booming American supplies now account for about half of the region's LNG imports.
If gas delivered via pipelines is also taken into account, the USA is the bloc's second-largest gas supplier after its neighbor Norway. Europe's decreasing dependence on Russian gas began even before Putin's invasion of Ukraine. In short, by swapping fossil fuel suppliers, Europe has traded one potential handicap for another, leaving its energy system vulnerable and vulnerable.