Across the Union, Russian LNG imports have increased by 11 percent during the first half 2024. Strikingly Russia has surpassed Qatar to become the bloc’s second-largest supplier, trailing only the U.S.
In total IEEFA estimates that EU countries spent €3.5 billion to purchase LNG from Russia during the first six months of 2024.
The vast majority of LNG imports from Russia continue to flow to France, Spain and Belgium, which together account for 87 percent. French company TotalEnergies continues to be linked to the Yamal LNG project via a 20 percent minority ownership.
EU consumption likely to have peaked
The new study also concludes that EU LNG consumption has likely peaked and that across the continent an increasing share of LNG import terminals sit idle, highlighting that the EU’s construction spree following the full-scale invasion of Ukraine in February 2022 may have overshot its target.
The average utilization rate of EU LNG import terminals decreased from 62.8 percent during the first half of 2023 to 47.2 percent in 2024.
Source link : https://www.highnorthnews.com/en/russia-still-second-largest-gas-provider-eu-after-norway-lng-imports-increasing
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Publish date : 2024-09-12 07:00:00
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