Europe and the coming global LNG oversupply

Chart showing TTF prices versus US export costs to Europe, illustrating how global LNG oversupply has compressed European gas prices since 2023

Europe is set to navigate a new phase of global LNG oversupply as a wave of new liquefaction projects reshapes prices, trade flows and contracting patterns. Global LNG markets are moving into a structurally oversupplied phase as a record build-out of liquefaction capacity collides with softer demand growth, with important implications for Europe. In 2025, European LNG imports reached a […]

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