Europe imports record volume of LNG in 2023

Flows of liquefied natural gas (LNG) from European terminals to the EU gas transportation system in 2023 turned out to be a record for the entire time of observation and exceeded 131 billion cubic meters.

The Gas Infrastructure Europe data shows this, TASS reports.

LNG receipts from terminals to the European gas transportation system in December decreased after growth a month earlier. At the end of December they amounted to 11.36 billion cubic meters, being 4 per cent lower than in November and 6 per cent less than last year. This figure was the second highest for December in history. The previous maximum was set in December 2022.

In total, in 2023, LNG supplies from terminals to the European gas transportation system amounted to about 131.22 billion cubic meters - 1.9 per cent more than in the previous year. Thus, LNG imports by European countries last year became a record for the entire period of observation.

LNG in 2023 ranked first in terms of share among the sources of gas received by Europe – 40 per cent, according to the data of the European Network of Gas Transmission System Operators as of December 29. In second place with a share of 29 per cent are supplies from the North Sea (mainly Norwegian gas), in third place with 11 per cent are supplies from North Africa.

The share of gas supplies from the East (Russian gas, Ukrainian gas supplies, and European companies taking their gas from Ukrainian UGS facilities) rose to 9.7 per cent. This is more than was supplied from the UK (5.8 per cent).