Four EU countries and Egypt make up top five US LNG importers

Within the global gas story, many chapters are being written, including a U.S. wave of upcoming liquefied natural gas (LNG) developments, where the export boom continues to fuel new projects, as the European regasification build-out continues. Among the five countries spotlighted as the top U.S. LNG importers, four are part of the European Union (EU), which is using U.S. LNG to wean itself off Russian gas.

The U.S. Department of Energy (DOE) has outlined in the latest ‘Natural Gas Imports and Exports Monthly Report’ that the United States exported 691.2 billion cubic feet (bcf) and imported 253.5 bcf of natural gas in June 2025, resulting in 437.7 bcf of net exports.

The U.S. sent 406.0 bcf, or 58.7% of total natural gas exports, in the form of LNG to 34 countries. As a result, Europe received 251.7 bcf or 62%, Asia got 86.7 bcf or 21.4%, Latin America/Caribbean secured 42 bcf or 10.3%, and Africa imported 25.6 bcf or 6.3%.

This represents a 6.9% decrease from May 2025 and a 13.9% increase from June 2024. While 86.4% of total LNG exports went to non-free trade agreement countries (non-FTA), the remaining 13.6% went to free trade agreement countries (FTA).

The United States exported 218.1 bcf of natural gas to Mexico and imported less than 0.1 bcf of natural gas from the North American country, which led to 218.1 bcf of net exports, marking a 3.2% drop from May 2025 and a 7% spike from June 2024.

The U.S. sent 67.1 bcf of natural gas to Canada and got 253.3 bcf of natural gas from the country, which culminated in 186.2 bcf of net imports, signifying an 8.3% uptick from May 2025 and a 0.6% fall from June 2024. According to the U.S. Department of Energy’s data, LNG exports to the top five countries of destination accounted for 50% of total U.S. LNG exports.

Therefore, the Netherlands won the first place with 62.1 bcf or 15.3%, Germany came second with 45.7 bcf or 11.3%, Italy took the third spot with 42.3 bcf or 10.4%, France secured the fourth place with 27.3 bcf or 6.7%, and Egypt brought up the rear with 25.6 bcf or 6.3%.

Taking into account the limited high-value positions and rising competition across the offshore oil and gas arena, especially within the LNG segment, Wood Mackenzie recently pointed out that timing and strategic fit would be critical in identifying where value was shifting.

Wood Mackenzie’s Ryan Duman said: “The window of opportunity is now. Those who move early can form the right partnerships, capture the best inventory and structure the right marketing agreements with demand centres, including both LNG players and AI-linked hyperscalers.”

Given a wave of new final investment decisions, project start-ups, and pricing volatility reshaping the competitive landscape, Wood Mackenzie underlined: “With many players having aggressive growth targets, LNG M&A activity is far from done. There are a variety of positions available but many of these positions have been on the market before, and attractive positions remain limited. Finding the right, valuable positions is key.”

When it comes to the interstate gas pipeline uptick, the company notes the surge in open season activity this year, with 27 proposed projects totaling over 15 billion cubic feet per day in capacity, as federal reforms fuel growth amid regional focus shifts. WoodMac is adamant that federal policy is enabling investment, but regional politics will determine project viability.

Commenting on the changes that are curbing regulatory uncertainty, the company underlined: “This uptick in activity corresponds with a series of recent federal permitting reforms aimed at streamlining the approval process. The One Big Beautiful Bill Act established fixed timelines for environmental reviews, setting a 180-day limit for environmental assessments and a one-year limit for full environmental impact statements.

“The Federal Energy Regulatory Commission (FERC) also increased the cost threshold for prior notice filings, while narrowed review scopes under the National Environmental Policy Act (NEPA) are expected to reduce litigation risks.”

The firm’s annual outlook tracks 260 energy transition technologies across six metrics: technology maturity, pace of change, carbon abatement cost, carbon offset potential, policy support, and dependency, revealing global competition and shifting priorities, as technology supremacy has become a geopolitical race, with strategic investment and policy alignment set to determine leadership in the energy transition.

“Cumulative global investment requirements to 2050 range from US$72 trillion in a delayed transition scenario to US$117 trillion under net zero pathway. Capital expenditure requirements also vary significantly across regions. China and Europe show the lowest gaps in investments, at 44% and 43% respectively, to reach net zero from the base case. The US requires an 83% increase, as policy headwinds hold back investments,” outlined WoodMac.

While the company has identified shifts compared to last year, primarily due to the changes in the U.S. policy toward clean energy pursuits, such as offshore wind, artificial intelligence and data center infrastructure, are enabling nuclear and geothermal energy to secure the limelight as long-duration energy storage and grid infrastructure remain at the top of decarbonization moves.

The firm elaborated: “In the longer term, we project global oil demand to hit a plateau in the early 2030s. We see US production levelling off before then. And if crude prices do drop significantly next year, with West Texas Intermediate remaining below US$60 a barrel for a sustained period, then we would expect US oil production from the Lower 48 states to fall even faster than our base case.

“For gas, the outlook is very different. Two factors are driving US demand higher: increased gas-fired power generation and a surge in LNG exports. Wood Mackenzie is forecasting that North America’s domestic gas demand plus exports will rise by about 33% over the next 10 years, from about 1.26 trillion cubic metres (tcm) in 2025 to about 1.67 tcm in 2035.”

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