EU almost doubles LNG purchases year-on-year

From January to October 2022, 27 EU countries purchased 105 billion cubic meters. m. of liquefied natural gas (LNG). This is evidenced by data from Kpler, which cites RBC. For the same period in 2021, the EU purchased 64 billion cubic meters. m., for the entire last year – 78 billion cubic meters. m.

This year, the EU countries purchased more LNG than China, the traditional leader in the purchase of this raw material. For nine months, China imported 69.9 cubic meters. m. compared to 87.5 billion cubic meters. m. for the same period last year.

LNG purchases by the European Union are growing due to a decrease in pipeline gas supplies from Russia. Last year, Gazprom delivered 155 billion cubic meters to the EU and Turkey. m. Approximately 40% of European consumption was provided by the Russian company. This year, according to the International Energy Agency, Russian gas imports will drop to 60 billion cubic meters. m.

Due to LNG supplies to EU countries managed quickly fill gas storage for the winter. So, Germany filled them in at 99.54%, France – at 99.9%, Italy – at 95.5%. Due to massive purchases of LNG, gas prices in Europe are declining. According to the investment bank Goldman Sachsin the coming months, the price of gas in Europe will fall by 30%.

More details – in the material “Gas prices have gone into reserve”.

Anastasia Larina