economy
January 19, 2026
EU walking into ‘high-risk dependency’ on US energy
US LNG may account for 80% of EU imports by 2030, researchers have said, warning of ‘high-risk dependency’ amid tension over Greenland
TL;DR
- IEEFA warns of a "potentially high-risk new geopolitical dependency" for the EU on US natural gas imports.
- The EU's increased reliance on US gas follows a decrease in pipeline gas from Russia after 2022.
- US President Trump has imposed tariffs on some European NATO nations over Greenland and uses energy as a trade negotiation tool.
- The EU agreed to buy $750 billion worth of US energy products by 2028 to avoid tariffs.
- IEEFA suggests investing this sum in renewables could boost energy security and lower prices.
- Reduced Russian gas imports have caused an energy crisis in the EU, leading to economic harm and increased living costs.
- Russia claims to be a reliable supplier and has shifted exports to 'friendly' markets.
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