US LNG exports are reshaping the European market

Today, the US is the world's largest exporter of liquefied natural gas (LNG), with cargoes shaping the energy security of Europe, Asia and beyond. In August, US exports hit a record high, cementing America's role as the world's leading supplier of liquefied natural gas. New facilities are rising along the Louisiana and Texas coasts, reflecting this unprecedented pace of expansion in the sector.  For European utilities seeking to cut ties with Russia and for Asian buyers hedging against faltering domestic production, US LNG offers scale, optionality and reliability. Long-term contracts promise stability, while flexible delivery terms, such as LNG tankers, allow buyers to redirect cargo to wherever the value is highest and provide buyers with greater optionality, reducing dependence on fixed infrastructure.  Yet, every new LNG train adds capacity and risk. Oversupply could compress margins, while Henry Hub price dynamics may pose a challenge to competitiveness. Despite its status as a "bridge fuel", LNG could lock in long-term fossil fuel dependence.  The stakes are immense. If global LNG demand rises 50% this decade, as some forecasts suggest, US projects could define the contours of the market for a generation. But the question remains: can America's LNG boom sustain its momentum, or will it become a victim of its own success?