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UK LNG Imports Fall to Energy Crisis Low

LNG

UK LNG imports in June 2023 of 0.4m tonnes will be the lowest since the European gas crisis began according to ICIS. September 2021 stood at 0.3m tonnes. Flows into the UK are likely to remain under pressure due to a number of factors.

  • There has been some major planned maintenance in the US, with key supplier Sabine Pass closing two of its six trains across most of June, resulting in a loss of almost a million tonnes of output this month.
  • Competition from Asia has also been increasing this year, with China's imports growing again, as well as buying from South Asia.
  • There is also increased competition from other buyers in Europe. Cargoes no longer need to use the UK as a gateway to the continent, they can go straight to four new terminals that have been developed in the Netherlands and Germany instead.

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