January 20, 2023 12:11 GMT
Global LNG Flows Shift in 2022 As EU Increase Imports
Europe's drive to replace lost Russian pipeline gas led to a shift in global LNG trade flows in 2022 according to Blomberg.
- Imports in European markets jumped by 62% over the year, with the biggest increases in France, Spain, and the UK.
- Japan was the top global LNG importer in 2022 helped by a 21% drop in deliveries to mainland China. The largest increases were seen in France, Spain, and the UK.
- Total LNG supply reached 402m tons in 2022. Qatar remained the biggest supplier, just ahead of the US and Australia.
- Global LNG trade reached 392m metric tons in 2022 up 4.7% from 2021 according to Bloomberg. The spot volume share in global LNG trade averaged 23% in 2022.
- LNG transit via key routes of the Panama Canal, Suez Canal, Cape of Good Hope and Northern Sea Route dropped 30% in 2022 as direct journeys from the US increased by 68%.
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