According to Refinitiv data, about two-thirds of US liquefied natural gas (LNG) volumes went to Europe in January, compared to around 61% in December, outpacing exports to Asia for the second month in a row. A lack of supply has driven demand and led to cargoes being re-routed from other destinations. The crisis in Ukraine has again highlighted Europe’s dependency on natural gas supplies from Russia and forced buyers to seek supplies elsewhere.
