- Spain’s Energy Minister assured that Europe’s growing reliance on U.S. LNG poses no risk, emphasising diversification with other suppliers like Qatar.
- Spain has become Europe’s leading LNG re-exporter, replacing Russian gas with U.S. imports.
Spain’s Energy Minister Sara Aagesen addressed growing concerns over Europe’s increasing reliance on liquefied natural gas (LNG) from the United States, particularly amid threats from U.S. President Donald Trump to escalate a broader global trade war.
Speaking to reporters in Madrid on Thursday, March 13, Aagesen stated that despite the complex geopolitical environment, she did not perceive significant risks associated with the rise in American gas imports.
While LNG imports from the U.S. have surged, the American business model ensures Europe is not exposed to undue vulnerabilities.
Aagesen highlighted that while American LNG plays a vital role in Europe’s energy mix, other countries, such as Qatar, contribute to the region’s energy diversification.
She noted that this diversification is key to Europe’s long-term energy security and stressed that Europe must continue to focus on strategic autonomy by reducing dependence on external gas supplies and increasing domestic renewable energy production.
With its extensive LNG import terminals, Spain has become the leading LNG re-exporter within the European Union.
This position has been reinforced by the sharp decline in Russian gas exports via pipelines following the ongoing war in Ukraine. While Spain’s LNG imports from Russia had been rising, these have been replaced mainly by the United States supplies, which have become the country’s primary gas source.
Despite the shift in suppliers, Aagesen pointed out that the European Union must develop a clear, coherent strategy to gradually phase out dependence on Russian gas, ensuring this transition does not cause undue hardship for households and industries reliant on energy.
To support Spain’s energy transition, Aagesen revealed that the Spanish government is set to approve a substantial €700 million ($759 million) subsidy to promote investments in energy storage technologies. This funding is crucial to advancing the country’s energy independence and sustainability.