MOSCOW, September 18. /TASS/. EU pipeline gas imports last month decreased by 2% in August and overall, since the beginning of this year, gas supplies from Russia to Europe have increased by 3 billion cubic meters, according to a report by the Gas Exporting Countries Forum (GECF).
In general, total gas consumption in the EU in January-August of this year decreased by 3% compared to the same period last year and amounted to 196 billion cubic meters.
"In August 2024, gas consumption in the EU recorded a year-on-year decrease of 4.6% to 17 bcm, which was mainly driven by higher nuclear and solar output in the power generation sector," the report says.
In the industrial sector, gas consumption in large industrialized European countries has recovered, which was facilitated by lower gas prices, the document notes.
In particular, in August, gas demand in Germany decreased by 4.8%, to 3.4 billion cubic meters. In Italy gas demand dropped by 2.4%, to 3.7 billion cubic meters; in France - by 16% to 1.1 billion cubic meters, in Spain - by 9.3%, to 2 billion cubic meters. The UK reduced gas consumption by 23%, to 2.3 billion cubic meters.
Pipeline gas imports to the EU in August amounted to 13 billion cubic meters, which is 2% lower than in July 2024, and 2% less than the level of August last year. In general, in January - August 2024, pipeline supplies to the EU increased by 4%, to 106 billion cubic meters. This growth is due to an increase in supplies from Russia by 3 billion cubic meters, as well as from Norway, the GECF notes.
According to the GECF report, China's total gas consumption in July increased by 7.4% year-on-year to 35 billion cubic meters.
LNG Supplies
In August, liquefied natural gas (LNG) supplies to Europe decreased by 22% year-on-year to 6.76 million tons. The reduction in LNG imports was due to lower demand for gas, storage capacity being full, and increased imports via pipelines. LNG imports by Asian countries increased by 3.9% to about 24 million tons. In total, in January-August 2024, Europe imported 67.39 million tons (-20%), Asia - 187.48 million tons (+9.4%).
World LNG exports in August increased by 3.6% year-on-year to 34.24 million tons. This figure was the highest since March and a record for August. Overall, since the beginning of the year, global LNG exports have increased by 1.1%, to 272.82 million tons. The largest suppliers of liquefied gas in August were the United States, Qatar and Australia, while Russia ranked fourth.