Taps Coogan – February 9th, 2024
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As the following chart from Statista highlights, US LNG exports to several European countries have surged (as of the most recent data from 2022) with France now the largest single importer, a position long held by South Korea prior to the massive changes to energy markets caused by the War in Ukraine.
Such surging exports are the primary driver for an approximate halving of the US trade deficit to France between 2021 and 2022 and a ~10% narrowing of the broader US-EU trade deficit, the first such improvement to occur in at least a decade.