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Europe Plans 43% Increase in Import Cap by 2026

LNG

Europe looks to LNG for supply as they reduce dependence on Russia gas supplies.

  • A joint statement by US and EU stated that global LNG exports since March to Europe are up 75% compared to 2021 and US exports to Europe have nearly tripled.
  • Net imports into NW Europe have averaged approximately 192k mt so far this year compared to a 5-year average of 96k mt for the same period.
  • Plans are to increase LNG import capacity by 80.7m t/yr by 2026 with 16 projects already reaching final investment decision. European LNG import capacity would increase 43% to 265m t/yr by 2026.
  • In total 23.8m ton/yr is due to start operations by the end of this year with FRSUs in Finland, 2 in Netherlands and 1 in Turkey. Next year 4 more totalling 17m t/yr are expected to come online with 2 in Germany, 1 in Italy and 1 in Greece.
  • Other projects include 2 more terminals in Germany, Belgium, UK and Poland which are all schedule for completion in late 2025 or 2026.
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