U.S. liquefied natural gas exports to Europe have fallen below 50% for the first time in the last two years.

For the first time since July 2024, less than half of the U.S. liquefied natural gas (LNG) exports have been directed towards Europe, according to preliminary data from LSEG.

This change is driven by higher prices in Asia and record imports from Egypt, which have led to the redirection of ships. In June, total U.S. LNG exports slightly increased to 10.6 million metric tons, of which only 4.41 MT were delivered to Europe, down from 5.13 MT in May.

Egypt has been a major buyer, importing a record level of 1.06 MT from the U.S.

Deliveries to Asia totaled 3.25 MT, accounting for approximately 31% of exports. Other countries that imported LNG from the U.S. include the United Arab Emirates, South Africa, and Senegal.