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EU Gas Import Supplies Recover Driven by Norway & LNG: Bruegel


Natural gas import supplies to Europe have continued to recover this month according to Bruegel data release earlier this week as the prolonged seasonal maintenance in Norway gradually comes towards an end and LNG supply rises.

  • Norwegian supplies in week 41 (9-15 Oct) returned almost back to near pre maintenance levels while LNG imports also increased and supply from Azerbaijan continued the recent trend higher. Supply from Algeria recovered slightly after a big drop the previous week while Russian and UK supplies remained stable.
  • Total imports increased to 5,758mcm in week 41 compared to 5,218 the previous week although remains below the 2015-2022 minimum at this time of year of 6,303mcm.
  • The US share on European LNG imports fell from 52.1% in August to 50.1% in September, while volumes originated from Africa increased to 23.6%, Russian supply increase to 12.5% and 10.1% from the Middle East.
  • Reverse EU gas flows into Ukraine have fallen back from a peak of 264mcm in mid August to levels only just above last year around 77mcm. EU flows to Ukraine surged over the late summer with increased use of Ukraine storage amid healthy EU levels.

Source: Bruegel

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