Europe’s LNG imports up 8.3% in 1H, hit fresh all-time high

Business & Economy July 03, 2023, 13:35

In particular, LNG supplies from terminals to Europe’s gas transport system in June were just shy of hitting an absolute record for May, and they reached a fresh all-time high for this month of 11.73 bln cubic meters

MOSCOW, July 3. /TASS/. LNG supplies from European terminals to the EU’s gas transport system rose by more than 8% in 1H 2023 year-on-year, reaching a fresh all-time high, according to data provided by Gas Infrastructure Europe (GIE).

Liquified gas flows from terminals to Europe’s gas transport system totaled around 67.91 bln cubic meters in January-June 2023, which is 8.3% higher than in the same period last year. This is also the record level for the first half of the year since GIE records began.

In particular, LNG supplies from terminals to Europe’s gas transport system in June were just shy of hitting an absolute record for May, and they reached a fresh all-time high for this month of 11.73 bln cubic meters. The previous maximum was registered in June 2022.

The share of LNG has been the largest among sources of gas supplies to Europe in 2023, reaching 39%, according to data provided by the European Network of Transmission System Operators for Gas (ENTSOG) as of June 26. The second-largest share of 28% is held by gas supplies from North Sea (mainly Norway’s gas), followed by supplies from North Africa (10%).

The share of supplies from the east (Russian gas, gas supplies from Ukraine, as well as withdrawal of their gas from Ukrainian underground storage facilities by European companies) has fallen to 7.55%. However, this share is higher than deliveries from the UK (6.9%) and the level of gas withdrawn from the EU’s underground storage facilities (4.6%).

Read more on the site →