LNG

European countries’ reliance on US LNG imports comes with a risk, TotalEnergies’s CEO Patrick Pouyanne warns. Infrastructure constraints could limit how much LNG the US can actually deliver, while new US supply coming to market in late 2026 is largely uncontracted and could be shut-in if spot prices collapse.

Risks abound that some US LNG export capacity will be shut in starting from 2029. If Asia cannot absorb the excess supply by adding import capacity through FSRUs, and there are successive mild winters, analysts reckon the global market will need US shut-ins to balance.