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European Spot LNG Demand to Soar 2023: IEA

LNG

The EU's gas market exposure to the global spot market is set to rise drastically in the coming years from less than 20% to over 50% according to the IEA.

  • Spot procurements and destination-flexible LNG contracts would meet about 48% of the EU's total gas demand in 2023 and their share could rise to above 50% by 2025 if EU companies don't engage in a more active contracting strategy.
  • Since Russia's invasion of Ukraine, EU companies signed around 20 bcm/y of LNG contracts -just one-seventh of Russia's piped gas deliveries to the EU in 2021.





source: IEA

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