The EU now mandates that storage must be 90% full by 1 November each year
Europe’s appetite for LNG to ease
Ample stocks and a soft demand outlook will limit how much LNG Europe can import this year
Europe’s role in the global LNG markets appears to be shifting once again. The energy crises of recent years saw the bloc become the premium marginal purchaser of LNG, as Europe desperately sought to break its energy dependence on Russia following the invasion of Ukraine. But two consecutive mild winters, high storage levels and a muted economic outlook mean European LNG demand looks relatively weak this summer and might be poised to decline as the region continues with its aggressive buildout of renewables and adoption of energy-saving measures in the coming years. Europe is poised to enter the summer months with record gas inventories for this time of year. Data from storage operator assoc
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
