Published by Global Banking & Finance Review®
Posted on February 4, 2026
3 min readLast updated: February 4, 2026
Add as preferred source on GoogleUniper downplays US LNG reliance, stressing diversification. European gas prices expected to stabilize as market rebalances.
By Emily Chow
DOHA, Feb 4 - A top executive at German utility Uniper has played down European concerns over increasing dependence on liquefied natural gas (LNG) from the United States, saying companies sign contracts with firms rather than governments, while stressing the need for diversification.
U.S. President Donald Trump's transactional diplomacy and his pursuit of "energy dominance" has sharpened European concerns about their heavy reliance on U.S. LNG, which replaced most of the volumes previously supplied by Russia.
The European Union's LNG imports from the U.S. stood at almost 60 million tons in 2025, nearly four times higher than its 2021 levels, according to Kpler data.
"We are not dealing with an administration, we are dealing with companies operating in a certain system and I trust that system," Carsten Poppinga, Uniper's chief commercial officer, told Reuters in an interview on the sidelines of the LNG2026 conference in Doha, Qatar.
"That there will be a dominance of U.S. LNG, I think that's understandable and right, because it's the most economical solution."
Nevertheless, companies need to manage portfolio risks by means of diversification, he added.
Germany imported 1.031 terawatt hours (TWh) of pipeline gas and LNG in 2025, up more than 16% year-on-year, with Norway (44%), the Netherlands (24%) and Belgium (21%) being the top suppliers, according to figures from the country's energy regulator.
Around 10% of all imports occurred via the country's LNG terminals, most of which were hastily built during Europe's energy crisis, with the United States accounting for 96% of those.
In April 2025, Uniper signed an LNG deal with Woodside Energy, with supply coming from the Australian firm's global portfolio as well as its Louisiana project in the U.S.
Poppinga added that the company would seek to diversify its supply sources to include the Middle East and Argentina.
"We will have a large share of U.S. LNG in the portfolio in Europe, there's no way around it. The only thing I'm saying is that you need this diversification. How much percentage that is, any company needs to decide for itself, but you need to have partners from different regions in the world."
Asked about concerns of an LNG supply glut as new projects, mainly from the United States and Qatar come online later this year through 2029, Poppinga said the market would ultimately "rebalance" and Asia's rising demand should absorb additional volumes, expecting longer-term European gas prices to settle around €20–25/MWh.
"It might take some time (to rebalance), but I don't believe in a structural, long lasting oversupply," he said.
(Reporting by Emily Chow in Doha; Writing by Marwa Rashad in London; Editing by Michael Perry)
LNG, or liquefied natural gas, is natural gas that has been cooled to a liquid state for ease of storage or transport. It is primarily composed of methane.
Diversification is a risk management strategy that mixes a wide variety of investments within a portfolio. This aims to reduce the impact of any single asset's poor performance.
Portfolio diversification involves spreading investments across various financial assets to minimize risk. This strategy helps to protect against significant losses.
Market rebalancing is the process of realigning the proportions of assets in a portfolio to maintain a desired level of risk and return.
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