Reports & Studies
Delivering Energy Security: Texas LNG Is Helping Keep Europe's Lights On
The rapid increase in global energy demand following sharp declines in 2020 from COVID-19 and Russia’s invasion of Ukraine made the end of 2021 and 2022 a tumultuous time for energy across the globe, especially in Europe. Skyrocketing oil, natural gas and electricity prices and a need to swiftly diversify from Russian supplies led to Europeans looking to the United States – and Texas – for assistance as the continent has rethought how they procure and provide energy.
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- America drastically increased its LNG exports to Europe: 74 percent of all U.S. exports went to Europe in the first of half of 2022. In that same period in 2021, exports to Europe only represented 34 percent of U.S. LNG exports.
- America shifted LNG exports from Asia to Europe: In June 2021, the top two destinations for U.S. LNG exports were South Korea and China, respectively. In June 2022, the top two destinations for U.S. LNG exports were France and the Netherlands.
- Europe turned away from Russian natural gas: There was a 40 percent decrease in Russian piped natural gas to the EU and UK from January to July 202
- Texas helps drive U.S. natural gas production: About a quarter of U.S. natural gas is produced in Texas.
- Texas ports, like Corpus Christi, provided essential infrastructure to meet European demand: 90.1 million tons of LNG moved through Port of Corpus Christi in the first half of 2022.
- Texas export facilities will feed future European demand: About 96 percent of planned U.S. LNG export capacity will be located in the Gulf of Mexico and supplied largely by Texas natural gas.