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Europe’s LNG Imports in H1 Lowest Since 2021

LNG

LNG imports into Europe fell 20% year on year in H1 2024 to 54.92m mt, the lowest level since H1 2021, Platts said.

  • This represents a 20% fall year on year.
  • France was the largest importer, taking 10.31m mt, followed by the Netherlands at 7.59m mt, and Spain with 7.57m mt.
  • Conditions in Europe remained bearish as robust supply from Norway and strong storage levels slashed demand for LNG cargoes.
  • Furthermore, Asian LNG prices have remained elevated relative to Europe, pulling marginal US cargoes to the Far East.
  • Total imports to the JKTC region are up 2.7% year on year to 68.28m mt.
  • Traders told Platts that arbitrage economics could keep cargoes flowing to APAC even in Q4, with JKM remaining at a strong premium over European prices.
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