popular articles

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

Please share:

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.

Register free of charge for uninterrupted access.

Publicite

Recently published in

The Moldovan government has authorized the transit of gas to Transnistria via Hungary, but under strict conditions. Tiraspol must release political prisoners and lift restrictions. Meanwhile, the region has rejected a €60 million European aid package.
Gas prices in Europe have surpassed $620 per 1,000 cubic meters, reaching a level not seen in two years. At the same time, underground gas reserves have dropped below 50%, with withdrawal rates among the highest ever recorded for February. ##
Gas prices in Europe have surpassed $620 per 1,000 cubic meters, reaching a level not seen in two years. At the same time, underground gas reserves have dropped below 50%, with withdrawal rates among the highest ever recorded for February. ##
GAIL, Indian Oil, and BPCL are in talks with U.S. suppliers to purchase additional liquefied natural gas (LNG). The objective is to diversify supply sources and secure extra volumes following the lifting of U.S. export restrictions.
GAIL, Indian Oil, and BPCL are in talks with U.S. suppliers to purchase additional liquefied natural gas (LNG). The objective is to diversify supply sources and secure extra volumes following the lifting of U.S. export restrictions.
Amid trade tensions with the United States, Taiwan's state-owned CPC Corporation is exploring an increase in its purchases of American natural gas. This decision could reshape its supplier distribution and redefine its international energy relations.
Amid trade tensions with the United States, Taiwan's state-owned CPC Corporation is exploring an increase in its purchases of American natural gas. This decision could reshape its supplier distribution and redefine its international energy relations.
A 3-billion-dollar agreement has been negotiated between Egypt, Shell, and TotalEnergies for 60 LNG cargoes in 2025. The terms include an indexation on the Dutch TTF and staggered payments. Confirmation is still pending.
Gas prices in Europe continue their upward trend, driven by a sharp decline in reserves and an anticipated increase in demand. The end of Russian gas transit through Ukraine and unfavorable weather conditions are adding pressure to the market.
Gas prices in Europe continue their upward trend, driven by a sharp decline in reserves and an anticipated increase in demand. The end of Russian gas transit through Ukraine and unfavorable weather conditions are adding pressure to the market.
Following the halt of gas deliveries through Ukraine, Slovakia now relies on the TurkStream pipeline and a route through Hungary to secure its supply. This decision aligns with its independent energy strategy despite geopolitical tensions in Europe.
Following the halt of gas deliveries through Ukraine, Slovakia now relies on the TurkStream pipeline and a route through Hungary to secure its supply. This decision aligns with its independent energy strategy despite geopolitical tensions in Europe.
ADNOC Gas reports a net profit of $5 billion in 2024, marking a 13% year-on-year growth. The company strengthens its position with adjusted revenues of $24.43 billion and plans strategic investments through 2029. ##
ADNOC Gas reports a net profit of $5 billion in 2024, marking a 13% year-on-year growth. The company strengthens its position with adjusted revenues of $24.43 billion and plans strategic investments through 2029. ##
McDermott has successfully completed the transportation, installation, and commissioning of the Kikeh subsea gas lift project, awarded by PTTEP Sabah Oil Limited. Conducted in deep waters off the coast of Sabah, East Malaysia, the project was completed in under eight months.
Facing declining interest from European companies in its gas storage capacity, state-owned operator UkrTransGaz is focusing on integrating into the European Union market and implementing measures to strengthen the competitiveness of its infrastructure despite security challenges.
Facing declining interest from European companies in its gas storage capacity, state-owned operator UkrTransGaz is focusing on integrating into the European Union market and implementing measures to strengthen the competitiveness of its infrastructure despite security challenges.
ONEOK and MPLX announce a collaboration to build an LPG export terminal on the U.S. Gulf Coast, strengthening their presence in the NGL sector.
ONEOK and MPLX announce a collaboration to build an LPG export terminal on the U.S. Gulf Coast, strengthening their presence in the NGL sector.
Baker Hughes has secured an order from Tecnicas Reunidas for six gas compression trains and six propane compressors, key elements in the third expansion phase of the Jafurah field in Saudi Arabia.
Baker Hughes has secured an order from Tecnicas Reunidas for six gas compression trains and six propane compressors, key elements in the third expansion phase of the Jafurah field in Saudi Arabia.
Moldova begins routing gas to Transnistria with the help of €30 million from the EU, ensuring supply until February 10 despite the energy crisis.
A Scottish court has overturned the licenses granted by British authorities to Shell and Equinor to develop two oil and gas fields in the North Sea, prompting a delay in their exploitation and requiring new environmental assessments.
A Scottish court has overturned the licenses granted by British authorities to Shell and Equinor to develop two oil and gas fields in the North Sea, prompting a delay in their exploitation and requiring new environmental assessments.
Baker Hughes has signed a major contract to supply modular LNG systems and a power island, while also entering into a multi-year service agreement to support phases 1 and 2 of the Plaquemines LNG project in Louisiana.
Baker Hughes has signed a major contract to supply modular LNG systems and a power island, while also entering into a multi-year service agreement to support phases 1 and 2 of the Plaquemines LNG project in Louisiana.
GRTgaz renames itself NaTran to highlight its commitment to transforming its gas networks, aiming to become a key player in the transport of decarbonized gas by 2030. This change in identity accompanies an ambitious project to address energy and climate challenges.
GRTgaz renames itself NaTran to highlight its commitment to transforming its gas networks, aiming to become a key player in the transport of decarbonized gas by 2030. This change in identity accompanies an ambitious project to address energy and climate challenges.
The separatist authorities of Transnistria accuse Chisinau of diverting the European aid of 30 million euros intended for gas purchases. Disagreements persist over the distribution of resources amid the ongoing energy crisis following the halt of Russian deliveries.
Saneg, in partnership with international players, transforms flared gas into a usable resource, reducing energy dependency while strengthening its position in a pressured energy market.
Saneg, in partnership with international players, transforms flared gas into a usable resource, reducing energy dependency while strengthening its position in a pressured energy market.
Morocco is investing in a 990 MW gas power plant, backed by local and international financing, to achieve strategic and economic objectives.
Morocco is investing in a 990 MW gas power plant, backed by local and international financing, to achieve strategic and economic objectives.
The Investment Promotion Agency (APIX) and the Senegalese Gas Network (RGS SA) are formalizing a key partnership to develop a gas pipeline network, a crucial step to support the exploitation of the country's natural gas reserves.
The Investment Promotion Agency (APIX) and the Senegalese Gas Network (RGS SA) are formalizing a key partnership to develop a gas pipeline network, a crucial step to support the exploitation of the country's natural gas reserves.
ExxonMobil and Qatar Energy begin a strategic drilling operation off the coast of Cyprus, targeting new natural gas deposits. This initiative reflects the European Union's quest to diversify its energy supply sources.
Global natural gas markets will remain tight in 2025, with rising demand meeting slower supply growth. Geopolitical tensions could further exacerbate these market pressures.
Global natural gas markets will remain tight in 2025, with rising demand meeting slower supply growth. Geopolitical tensions could further exacerbate these market pressures.
European gas reserves have dropped by more than 17% in one year, while the Title Transfer Facility (TTF) futures contract exceeds 50 euros/MWh. The European Union raises its storage targets to secure winter supply.
European gas reserves have dropped by more than 17% in one year, while the Title Transfer Facility (TTF) futures contract exceeds 50 euros/MWh. The European Union raises its storage targets to secure winter supply.
Algeria partners with Chevron to evaluate hydrocarbon resources in its Mediterranean waters. This collaboration could reshape the country’s energy strategy and attract significant international investments.
Algeria partners with Chevron to evaluate hydrocarbon resources in its Mediterranean waters. This collaboration could reshape the country’s energy strategy and attract significant international investments.

Advertising