U.S. President Donald Trump moved to boost American energy exports, specifically LNG, from the very beginning of his return to the White House, Lawrence Korb, senior advisor at the U.S. Department of State’s Bureau of Energy Resources, told participants of the sixth Budapest LNG Summit on April 14.

“I think from his first day in his office, President Trump put energy at the top of the agenda. He emphatically confirmed within minutes, if not maybe an hour of his inauguration, his plan to unleash America’s affordable and reliable energy and natural resources,” Korb declared.

Moreover, Trump’s words soon resulted in action at the highest levels, with Christopher Wright, the U.S. Secretary of Energy, issuing the first new export permit on Feb. 14.

“Secretary Wright concisely summed up our policy on LNG exports,” Korb said. “Exporting American LNG strengthens the U.S. economy and supports American jobs, but it also bolsters the energy security around the world.”

Adding further to the new drive, Secretary of State Marco Rubio has declared that the State Department would use its diplomatic muscle “to help President Trump fulfill his promise for a return to American energy dominance,” Korb added.

To some extent, the focus on Europe is merely an expansion of an ongoing process. The continent has been a top destination for U.S. LNG since 2016, historically attracting half of all such exports. But America is convinced there is more to be had.

On the Upswing

“Already, just taking 2025, [we can see] record U.S. LNG exports to Europe. In March, over 70% of U.S. LNG went there, and February [it] was more like 85%, so everything is on the upswing,” Korb beamed.

However, today, the project is more broad-based, with the United States planning an active role in addressing any impediments to success, including, for example, the infrastructure required to shift gas deliveries across the European continent.

“We want to ensure U.S. LNG can reach every corner of the continent. So, this means working with European partners to identify infrastructure bottlenecks and maximizing efficiency,” Korb reasoned.

“If U.S. LNG imported in France, Spain or Croatia cannot reach every corner of the continent, or if it’s difficult to book capacity, then we’re missing a market opportunity […] and European customers are being deprived of a reliable, cost-effective product, and also of having the security that comes from multiple, flexing options. You know, two suppliers are better than one,” he added.

Citing several projects already realized or planned, including the Krk Island floating storage and regasification unit, expansion in Croatia, and the so-called “Vertical Corridor” project connecting Greece to Ukraine, Korb said the States would be “trying to help out with” such developments, lending its diplomacy “to getting these projects moving and at times, saving them from becoming victims of local politics and vested interests.”

Korb stressed the need to realize current plans “before the next crisis, and not because of it; when the crisis happens, it’s already too late!”

But for all his optimism, the U.S. diplomat had his concerns, not least the need for, as he put it, “a fair and simple regulatory landscape in Europe.” As an example of potential sticking points, he pointed to EU regulation on methane as being of “particular concern” in Washington.

Improved Market Access

“The second thing we’re focused on is to improve market access for U.S. suppliers […] U.S. producers are leaders in methane management, so we need to work together to ensure that the methane measuring, reporting and verification rules and regulations don’t [work against] US LNG,” he said. It was a strong hint that differences in dealing with this greenhouse gas between the United States and the EU could prove a significant sticking point for developments.

He argued, “The continuing uncertainty [on market regulation] remains a massive and unnecessary blind spot for European and U.S. businesses looking to make significant long-term investment decisions.”

Further, despite his deep awareness of the numerous European development projects, Korb said nothing about potential American finance for the necessary infrastructure improvements.

Indeed, one of his last points was the need for European companies to sign long-term contracts with U.S. LNG suppliers, which he said would secure European energy needs but equally would reduce the financial risks taken by the American partners. But what, in the grand scheme of European gas needs, does the U.S. ramp-up mean?

According to the latest European Commission quarterly energy report, after a decline since 2022, the EU’s gas consumption began increasing again during the winter heating period, with annual consumption last year at 332 bcm, up 2 bcm on 2023. Total EU gas imports amounted to 273 bcm, of which the United States supplied 17%, or approximately 46 bcm. Hungary’s total consumption last year was a mere 8.5 bcm.

In light of these numbers, the U.S. plans to more than double its export capacity to 270 bcm (more than double the country’s total LNG exports of 123 bcm last year) would significantly impact European markets if achieved.

But perhaps surprisingly, Katalin Tamás, head of LNG advisory with the MET Group (a Hungarian-owned energy company headquartered in Switzerland), played down any concerns about a gas glut and potential price reductions, at least for the near future.

Speaking at a panel event after Korb’s presentation, she said: “First of all, I don’t see this glut coming in 2026-27 […] I don’t see how this project could deliver any LNG in 2027 […] rather we see it at the end of the decade, so ’29 or ’30,” she said.

Gergely Molnár, gas analyst, International Energy Agency

“Natural gas markets are becoming increasingly complex. First, we have a rapidly changing geopolitical context with profound implications on gas supply security, and this includes military attacks on gas infrastructure but also commercial decisions which are increasingly influenced by geopolitical considerations and an increasingly complex [mix of] trade policies. Second, the weather sensitivity of natural gas demand is increasing, partly because of more extreme weather patterns, but also due to the rising share of weather-dependent renewables in the power mix which need natural gas as a backup fuel to ensure electricity supply security.”

Zoltán Áldott, chair, International Association of Oil and Gas Producers Europe

“Europe lost nearly 100 bcm of pipeline supply in 2022-23, and this crisis, which we survived, put the EU’s resilience to an unprecedented test. Remember that LNG alone bridged over half of this gap in 2023, which meant plus 55 bcm of imports coming through the LNG networks. By [using] alternative pipeline imports, fuel switching, and, of course, demand reduction, energy savings filled the rest. To put it simply, without LNG, the continent would have been in recession a long time ago and with no end in sight. […] LNG is no longer a detour; it is a foundational part of our energy future.”

This article was first published in the Budapest Business Journal print issue of April 22, 2025.