Europe faces falling LNG imports

LNG reshipment levels from European hubs reached their lowest level for seven months, reflecting weak demand and strong competition with Asia for liquefied natural gas supplies.
Baisse Importations GNL Europe

Partagez:

According to data from Gas Infrastructure Europe, LNG reshipment levels in Europe fell to 2,789 GWh/day on May 18 and 2,797 GWh/day on May 19, the lowest since October 8. Compared with the same period last year, redispatch levels for the first 19 days of May were down 24%, averaging 3,092 GWh/day versus 4,048 GWh/day the previous year. This decrease is due to weaker demand for LNG, influenced by high prices and increased competition from Asian markets.

LNG imports and Norwegian flows

In May, Europe imported 5.5 million tonnes of LNG, the lowest level since last September. Imports were down 32% on the previous year. Meanwhile, gas flows from the Norwegian continental shelf averaged 320 million cubic meters per day in April, despite increased maintenance scheduled to reduce Norwegian production by 11% in May.

Gas stocks and impact on imports

Gas storage levels in the EU were 67.2% full at May 19, up from 65.2% a year earlier. High inventory levels mitigate the urgency of importing LNG for storage injections. Tight spreads between LNG and gas, despite low demand, also discourage LNG trading in the region. Gas prices rise in line with the JKM, the reference price for cargo delivery in North Asia.

Maintenance and effects on regasification capacity

Several ongoing maintenance operations in Europe are affecting LNG reshipment levels in certain countries. Germany, for example, currently has only two active floating storage and regasification units, due to maintenance at Lubmin and delays at other terminals. However, other North-Western European countries saw no increase to compensate for reduced regasification capacity.

Future prospects for LNG imports

As Europe prepares for the summer season, cooling demand could boost LNG imports in some regions. However, the extent of this recovery will depend on weather conditions and how well the countries of north-western Europe prepare for winter. Values for the coming month at the Dutch TTF, the reference hub for natural gas in Europe, have remained stable at around €28-32/MWh since the beginning of May.
Lower LNG imports into Europe reflect subdued demand and intense competition from Asia, exacerbated by high gas storage levels and tight market prices. The trajectory of LNG imports over the coming months will depend heavily on summer weather conditions and preparations for the winter season.

Shell Canada Energy announces shipment of the first liquefied natural gas cargo from its LNG Canada complex, located in Kitimat, British Columbia, primarily targeting fast-growing Asian economic and energy markets.
The Australian government is considering the establishment of an east coast gas reservation as part of a sweeping review of market rules to ensure supply, with risks of shortages signalled by 2028.
The increase in oil drilling, deepwater exploration, and chemical advances are expected to raise the global drilling fluids market to $10.7bn by 2032, according to Meticulous Research.
Enbridge Gas Ohio is assessing its legal options following the Ohio regulator's decision to cut its revenues, citing potential threats to investment and future customer costs.
The small-scale liquefied natural gas market is forecast to grow at an annual rate of 7.5%, reaching an estimated total value of $31.78bn by 2030, driven particularly by maritime and heavy-duty road transport sectors.
The European Union extends gas storage regulations by two years, requiring member states to maintain a minimum fill rate of 90% to ensure energy security and economic stability amid market uncertainties.
Energy Transfer strengthens its partnership with Chevron by increasing their liquefied natural gas supply agreement by 50% from the upcoming Lake Charles LNG export terminal, strategically aiming for long-term supply security.
Woodside finalises the divestment of a 40% stake in the Louisiana LNG project to Stonepeak, injecting $5.7 billion to accelerate developments and optimise financial returns ahead of first gas delivery scheduled in 2026.
Keranic Industrial Gas seals a sixty-day exclusivity deal to buy Royal Helium’s key assets, raise CAD9.5mn ($7.0mn) and bring Alberta’s Steveville plant back online in under fifteen weeks.
The Irish-Portuguese company Fusion Fuel strengthens its footprint in the United Arab Emirates as subsidiary Al Shola Gas adds AED4.4 mn ($1.2 mn) in new engineering contracts, consolidating an already robust 2025 order book.
Cheniere Energy validates major investment to expand Corpus Christi terminal, adding two liquefaction units to increase its liquefied natural gas export capacity by 2029, responding to recent international agreements.
A study by the International Energy Agency reveals that global emissions from liquefied natural gas could be significantly reduced using current technologies.
Europe is injecting natural gas into underground storage facilities at a three-year high, even as reserves remain below historical averages, prompting maximized imports of liquefied natural gas (LNG).
South Korea abandons plans to lower electricity rates this summer, fearing disruptions in liquefied natural gas supply due to escalating geopolitical tensions in the Middle East, despite recent declines in fuel import costs.
Russia positions itself to supply liquefied natural gas to Mexico and considers expanded technological sharing in the energy sector, according to Russian Energy Minister Sergey Tsivilyov.
Israel has partially resumed its natural gas exports to Egypt and Jordan following a week-long halt due to the closure of two major offshore gas fields, Leviathan and Karish.
Nepal reveals a significant potential reserve of methane in the west of the country, following exploratory drilling conducted with technical support from China, opening new economic prospects.
Petronas formalizes a memorandum with JOGMEC to secure Japanese LNG deliveries, including a first cargo from LNG Canada scheduled for July at Toho Gas.
Belgrade is currently finalising a new gas contract with Russia, promising Europe's lowest tariff, according to Srbijagas General Director Dusan Bajatovic, despite Europe's aim to eliminate Russian imports by 2027.
TotalEnergies and QatarEnergy have won the Ahara exploration licence, marking a new stage in their partnership with SONATRACH on a vast area located between Berkine and Illizi.