Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTRich DupreyTue, June 23, 2026 at 3:32 PM GMT+2 4 min readQuick ReadCheniere Energy has dropped 23% from its March peak despite U.S. LNG now supplying nearly 60% of Europe's imported gas needs.Europe's gas storage sits roughly 140 LNG cargoes below normal safety levels, making a cold winter a stronger recovery catalyst than another geopolitical crisis.Analysts hold a consensus Buy on Cheniere targeting $303 per share, implying 31% upside as stable contracted cash flows replace fading spot-market windfalls.Don't wait: the analyst who called NVIDIA in 2010 just revealed his top 10 AI stocks. See the full list FREE now.The outbreak of hostilities between the U.S. and Iran at the end of February sent energy markets into turmoil. When the Strait of Hormuz was temporarily closed, traders suddenly faced the prospect of a major disruption to global oil supplies. Brent crude briefly surged above $100 per barrel as did U.S. benchmark West Texas Intermediate (WTI) crude.Art Wager / iStock via Getty ImagesThose fears have eased as ceasefire negotiations and ongoing diplomatic talks reduced the risk of a prolonged conflict. Brent has since retreated to roughly $77 per barrel while WTI has fallen to around $73. Yet one corner of the energy market may still be benefiting from the aftershocks: U.S. liquefied natural gas exporters.Europe Is Now Dependent on American LNGOil grabbed the headlines during the Iran conflict, but natural gas may prove to be the more important long-term story.According to data from Columbia University's Center on Global Energy Policy, U.S. LNG accounted for roughly 64% of Europe's imported LNG supplies during the height of the Iran crisis and Strait of Hormuz disruption. Even today, that figure remains just below 60%.The shift did not happen overnight. Europe was already replacing Russian gas supplies following sanctions tied to Russia's invasion of Ukraine. The Middle East conflict only accelerated that trend.The Center's data also shows the U.S. has become Europe's second-largest overall gas supplier behind Norway. That dependence has created a powerful structural tailwind for exporters such as Cheniere Energy (NYSE:LNG), the largest U.S. LNG exporter.Don't wait: the analyst who called NVIDIA in 2010 just revealed his top 10 AI stocks. See the full list FREE now.Yet investors would never know it from the stock chart. By the end of March, shares of Cheniere had peaked alongside global gas prices. Since then, Cheniere has fallen 23%, while Venture Global (NYSE:VG) has declined 42%.Why Investors Turned BearishFirst, U.S. LNG exporters face a capacity problem. America has abundant natural gas reserves but lacks enough liquefaction facilities to export substantially more fuel than it already does. Most major export terminals are operating near full capacity. That means companies cannot dramatically increase volumes even when international prices spike.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info