Top analysis of the energy chessboard-US-Russia-EU energy poker. The case of Greece

 
Europe, with countless declarations, supports the move away from Russian natural gas, and since 2021, it has increased its dependence on American LNG. The US LNG strategy towards Europe is based on the fact that today it can sell large quantities to the opposite coast of the Atlantic, namely Europe and the Mediterranean, easily and with high profits.  However, it has also increased its purchase of LNG from Russia. 

The volumes of American LNG are far from those provided by Russian natural gas (pipeline + LNG) to the EU until 2021, which was more than 150 bcm. Sanctions have resulted in American LNG and total Russian natural gas exports (pipeline and LNG) to the EU being at the same level in 2024, approximately 55 bcm and 45 bcm, respectively. 

However, the US cannot export all its LNG, which is around 123 bcm, to Europe because LNG will go where contracts are long-term, prices are favorable, and methane emission restrictions are less prohibitive. The total export capacity of natural gas (pipelines and LNG) of the US in 2023 amounted to approximately 215 bcm. Of these, 92 bcm are exported via pipelines to Canada and Mexico, and 123 bcm elsewhere by ships. On the west side of the Atlantic, sales are insignificant.

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