New corridors linking LNG terminals in Poland, Greece, and Croatia are channeling U.S. and Qatari gas deep into the continent. (Filip Klimaszewski/Reuters)
The transformation is most visible in Central and Eastern Europe, where countries once reliant on Russian pipelines are turning west. New corridors linking LNG terminals in Poland, Greece and Croatia are channeling U.S. and Qatari gas deep into the continent. Nations such as Ukraine, Romania and Slovakia — long vulnerable to supply cutoffs — are forging contracts that would have been unthinkable just a few years ago.
"Central and Eastern Europe have been the most vulnerable because these were the countries that had been historically almost 100% dependent on Russian gas," said Aura Sabadus, a senior energy analyst at the Center for European Policy Analysis. "Now we see companies in those markets securing U.S. LNG through new routes, particularly via Poland and southern corridors through Greece."
In Athens last week, executives from major U.S. producers met with regional buyers from Greece, Poland and Ukraine to finalize new supply deals — the clearest sign yet that Europe’s energy axis has shifted. American gas now flows through the same infrastructure that once carried Russian fuel, and the geopolitical balance has flipped with it.
For the Kremlin, the toll is mounting. Energy exports once funded a third of Russia’s budget, but the loss of its most lucrative market has forced Moscow to sell oil and gas to China and India at steep discounts. Analysts say the country’s energy sector — once the backbone of its geopolitical power — has become a liability, exposing its dependence on fewer, less profitable buyers.
When Donald Trump warned European leaders years ago that their dependence on Russian gas would leave them "hostage to Moscow," the remark was met with skepticism — and even laughter. (Michael Nagle/Bloomberg via Getty Images)
The Trump administration has moved quickly to capitalize on the shift. It lifted a pause on LNG export approvals earlier this year, approved new production projects in Louisiana and Texas, and pushed for a U.S.–E.U. energy framework under which European buyers have pledged to purchase hundreds of billions of dollars in American energy over the coming decades. Officials point to a string of recent long-term contracts — including Venture Global’s deals with Italy and Germany over the summer, Greece’s agreement announced last week, and a newly signed contract between Spain’s Naturgy and Venture Global — as evidence that the "energy dominance" agenda is reshaping global trade flows.
Rob Jennings, vice president for natural gas markets at the American Petroleum Institute, said the policy shift has unleashed a wave of investment and confirmed strong demand for U.S. LNG.
"Five facilities have made their final investment decisions in the first nine months of this year, totaling about 50 million metric tons per year of new capacity — more than $50 billion in investment," he told Fox News Digital. "It’s a really strong signal from the market."
Jennings said the growth in exports benefits both sides of the Atlantic.
"Since 2016, the cumulative GDP impact of the U.S. LNG industry is about $400 billion, and over the next 15 years it could add another $1.3 trillion," he said. "At the same time, more than two-thirds of U.S. LNG exports now go to Europe every single day, replacing the gas they once bought from Russia."
Still, industry officials warn that regulatory differences could complicate future trade. Jennings pointed to two new European policies — the E.U. methane regulation and the Corporate Sustainability Due Diligence Directive — that U.S. producers say could impose foreign standards on American companies.
"Those rules are effectively Europe trying to impose its own standards globally," he said. "We hope that can be addressed as part of the trade deal, because there’s a risk they could undermine Europe’s commitment to buy more U.S. energy."
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
Europe’s realignment is far from complete. Regulatory mismatches, high transmission tariffs, and local politics still complicate integration across Central and Eastern Europe. But for now, the combination of abundant U.S. supply and new demand from coal-to-gas transitions has created what Sabadus called "a good alignment."
"We’re entering a buyer’s market now," she said. "There’s abundant U.S. LNG supply, and new pockets of demand are emerging in Eastern Europe as countries move from coal to gas."
https://www.foxnews.com/politics/russias-gas-gamble-backfires-trumps-energy-vision-reshapes-europe