November 09, 2022 10:01 GMT
EU LNG Demand to Surge 60% to 2026
Demand for LNG in Europe is putting pressure on global supplies
- European nations such as Germany, Italy and Finland are speeding up construction of floating LNG import terminals to replace Russian pipeline natural gas. Europe's LNG demand is forecast to surge nearly 60% through 2026 according to Bloomberg.
- Higher demand for LNG in Europe is reducing supplies elsewhere with limited global liquefaction supplies. LNG deliveries to countries such as India, Bangladesh and Pakistan are forecast to reduce compared to the five year forecast from 2021.