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LNG flows to Europe fall to six-month low in February

Since the beginning of 2024, LNG supplies from ports to the European gas transportation system totaled around 20.3 bln cubic meters, which is 6.2% less than the same period last year

MOSCOW, March 4. /TASS/. Flows of liquefied natural gas (LNG) from European terminals into the EU gas transmission system in February were the lowest since September 2023, according to data from Gas Infrastructure Europe (GIE).

At the end of February, they totaled 9.74 bln cubic meters, which is 8.1% less than in January and 6.4% less than the previous year. Since the beginning of 2024, LNG supplies from ports to the European gas transportation system totaled around 20.3 bln cubic meters, which is 6.2% less than the same period last year.

According to data from the European Network of Transmission System Operators for Gas (ENTSOG) as of February 28, extraction from underground gas storage facilities accounts for the largest share of European gas sources in 2024 at 35%. LNG comes in second with 25%, followed by North Sea supplies at 21% (primarily Norway’s gas).

The share of gas supplies from the East (Russian gas, gas supplies from Ukraine, and European corporations sourcing gas from Ukrainian underground gas storage facilities) was 7.93%, which exceeds the supply from the United Kingdom (1.73%), and North Africa (6.5%).

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