LNG supplies to EU drop to lowest level since October 2021

LNG supplies from European terminals to the EU's gas transport system experienced a significant decline in August 2024, reaching their lowest level since October 2021, according to Gas Infrastructure Europe (GIE).

Last month such LNG supplies amounted to 7.16 bln cubic meters, down by 12% compared with July, and down by 26% compared with last August. This is the lowest level since October 2021, News.Az reports citing foreign media.

LNG supplies from terminals to Europe’s gas transport system have reached around 73.9 bln cubic meters since the beginning of 2024, which is 17% lower than in the same period last year.

The share of LNG has been the largest among sources of gas supply to Europe in 2024, standing at 37%, according to figures provided by the European Network of Transmission System Operators for Gas (ENTSOG) as of August 27. Second come supplies from North Sea, mainly Norway’s gas (32%) followed by withdrawal from the East, which includes Russian gas, gas supplies from Ukraine, as well as withdrawal by European companies of their gas from Ukraine’s UGS facilities (12%). This is higher than supplies from the UK (5%) and North Africa (11%).

News.Az