May 19, 2023 10:49 GMT
European LNG vs Russian Pipeline Gas Supplies
Europe continues to reply on supply diversification, mostly from LNG imports, and reducing demand (energy efficiency gains, accelerated decarbonisation) to replace the lost Russian supplies.
- Russian pipeline flows to Europe fell to 66bcm in 2022 and saw a further 29.5bcm decline in Jan to Apr 2023. The supplies in 2022 fell by 71bcm from 2021 and were over 100bcm down from 2019 according to Timera Energy.
- LNG imports into new regas terminals in Germany have seen more than three quarters of the supply originating from the US in the first five months of operation according to Bloomberg.
Source: Timera Energy
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