The report credited policies designed to curb gas consumption and a flurry of new renewable energy projects for last year’s LNG slowdown, but noted that imports of gas via pipeline increased, meaning overall gas demand had remained steady.
The Institute for Energy Economics and Financial Analysis (IEEFA) found that Europe’s imports of liquefied natural gas, known as LNG, fell by 19% last year to lows not seen since 2021 as governments worked to replace fossil fuels with renewable energy.
Almost half the gas imported into Europe via LNG tanker last year was sourced from the US, but the EU’s imports of LNG from Russia climbed by 18% despite the bloc’s aim of ending its reliance on Russian fossil fuels by 2027.
European imports of seaborne gas shipments fell by a fifth last year to their lowest level since the pandemic, according to a new report, while the UK’s plunged by nearly a half, but governments are continuing to spend billions on new import terminals.
The report found that the UK recorded the steepest drop in LNG imports last year – a fall of 47% compared with the year before – after its gas demand fell to a record low.
