BY THERESE ROBINSON
July 26, 2023
Synopsis
Europe's LNG imports declined due to reduced natural gas demand and ample storage. Despite the seasonal drop, global competition poses an upside price risk for winter in a tightening market. Energy Aspects notes that the decrease is mainly due to a typical summer decline in gas demand rather than injection demand, as gas flows into storage were stronger in May-June than in April.
Europe’s hefty natural gas storage and diminished natural gas demand has led to months of decline in LNG imports, but global competition still presents an upside price risk for winter in a tightening market.
European LNG imports dropped from May to June after peaking at 9.50 million tons (Mt) in April. However, the month-on-month decline in European liquified natural gas imports has followed a typical seasonal trend, according to Energy Aspects, with import levels tracking broadly to the same period last year.
“LNG imports have fallen month-on-month more because of a seasonal decline in gas demand during the summer, rather than because of a lack of injection demand, with gas flows into storage actually stronger in May-June than in April,” Energy Aspects’ Senior LNG...
Source: www.naturalgasintel.com
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