LNG

Gas Infrastructure Europe (GIE), the association representing the interests of European Union gas infrastructure operators in gas transmission, storage and liquefied natural gas, said the flow of LNG to European terminals hit its lowest since December 2021.

The GIE, which is based in Brussels and represents 70 member companies from 26 countries, provided the information from its gas grid data.

LNG supplies from the main terminals in the EU in nations such as Belgium, France, the Netherlands, Spain, Italy, Portugal and Germany plunged in May 2024.

The decline in regasified LNG flowing into gas grids dropped by a quarter to around 6.75 million tonnes.

Regasified LNG flows were also down by 13 percent compard with April 2024.

Total LNG supplies from terminals to Europe’s gas pipeline system was also lower in the January to May period 2024.

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The decreased regasified LNG volumes were logged even as the EU had more terminals in operation as floating facilities came on line in Italy and Germany.

The total for the year to date though May fell by 10 percent compared with the first five months of last year to reached around 37.5MT.

Another body in the EU, the European Network of Transmission System Operators for Gas (ENTSOG), said that by the end of May the share of LNG was still the largest among sources of gas supply to Europe in 2024, standing at 32 percent.

Thus compared the 28 percent of gas provided from the Norwegian Continental Shelf and another 18 percent that came from gas storage facilities.

Other sources of gas received in Europe included 10 percent recived by pipleines from Algeria.

The Algerian volumes were delivered directly to Spain or via Tunisia to Italy by way of Sicily.

The share of gas supplies from Russia and volumes via Ukraine came to 9.5 percent.

Another 2.5 percent of European gas volumes originated from the UK North Sea.

The US remained the largest supplier of LNG to import terminals in EU and the UK followed by Qatar.