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LNG: Europe to Intensify LNG Competition with Asia in 2025: Axpo

LNG
Energy BulletsBulletPower BulletsCommodities

Europe must compete with Asia for LNG to meet its 2025 gas storage targets due to lower gas stock levels and the expiry of the Russia-Ukraine gas transit deal, according to Axpo, cited by Platts. 

  • A cold end to 2024 and slower LNG imports have reduced Europe's gas storage stocks below the five-year average.
  • The transit deal expiry means lower Russian pipeline supplies to Europe, forcing Europe to intensify competition with Asia for LNG imports to meet the 90% storage target by November 2025.
  • EU gas storage sites are currently at 65% capacity, compared to almost 80% last year.
  • Market concerns over depleting gas stocks and the end of Russian gas transit via Ukraine have increased European gas prices.
  • Geopolitical risks, including the incoming Trump administration and upcoming German elections, add to the uncertainty.
  • Axpo expects 2024 and 2025 to be marked by geopolitical events, political shifts, macroeconomic uncertainty, and variable weather conditions, contributing to energy price volatility.
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Europe must compete with Asia for LNG to meet its 2025 gas storage targets due to lower gas stock levels and the expiry of the Russia-Ukraine gas transit deal, according to Axpo, cited by Platts. 

  • A cold end to 2024 and slower LNG imports have reduced Europe's gas storage stocks below the five-year average.
  • The transit deal expiry means lower Russian pipeline supplies to Europe, forcing Europe to intensify competition with Asia for LNG imports to meet the 90% storage target by November 2025.
  • EU gas storage sites are currently at 65% capacity, compared to almost 80% last year.
  • Market concerns over depleting gas stocks and the end of Russian gas transit via Ukraine have increased European gas prices.
  • Geopolitical risks, including the incoming Trump administration and upcoming German elections, add to the uncertainty.
  • Axpo expects 2024 and 2025 to be marked by geopolitical events, political shifts, macroeconomic uncertainty, and variable weather conditions, contributing to energy price volatility.