US Gas Floods Europe as Russia Loses Grip on Energy Market

As Europe seeks to reduce its reliance on Russian energy following the invasion of Ukraine in 2022, the US is emerging as its largest gas supplier. According to the European Council, Russia still supplies around 12% of the bloc's gas imports, but by the end of 2027 it will ban them completely.

The EU has spent billions of euros on infrastructure to handle liquefied natural gas (LNG), making the bloc the largest importer in the world. One key site is Croatia's floating LNG terminal off the island of Krk, which can handle nearly 6.1 billion cubic metres of gas per year.

The terminal connects pipelines to Hungary, allowing US gas to flow into central Europe. Energy analyst Ivan Brodic notes that its future could be much bigger, as the terminal's largest supplier - the United States - looks to push Russia out of the market completely.

The US-backed pipeline between Bosnia and Croatia plans to link Bosnia to Krk, and loop it into Europe's gas network. This could even offer the cheapest gas for a post-war Ukraine. The US plan is part of its Trump Peace Pipelines Framework, which aims to expand energy infrastructure across central and eastern Europe.