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LNG to Make 36% of EU Gas Supply from 2022 to 2026: IEA


The share of LNG in Europe’s total gas supply is forecast to average more than a third to 2026 according to Montel citing IEA.

  • LNG is expected to average 36% of European supply in four-year period from 2022 as the “new baseload supply for Europe.”
  • Pipeline gas supply from Norway would average 25% with domestic production at 16%. Russian pipeline gas would fall to only 10% of European supply over the period.
  • Global LNG output is set to increase by a quarter.
  • LNG deliveries to Europe and Turkey increased 3% on the week to the highest in six months of nearly 3.8bcm according to Kpler data. Supply in November so far has increased 25% from the October average to 3.6bcm/week.
  • European LNG sendout to NW Europe fell back below levels from last year to 232mcm/d on Nov 19 according to Bloomberg from the highest since April of 304.5mcm/d on Nov 10.
    • TTF DEC 23 up 1% at 45.52€/MWh
    • TTF Q1 24 up 0.5% at 46.85€/MWh
    • TTF SUM 24 up 0.1% at 45.54€/MWh

Source: Bloomberg

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