With a market share of over 40 percent of European LNG imports, the USA dominates the LNG supply in Europe. This makes the USA the most important gas supplier for Europe after Norway. An overview of the past six summer months.
Maintenance reduces Norwegian gas export balance sheet
Norway’s gas exports of 532 TWh in the summer season were around 10 percent below the five-year average. In particular, the two maintenance intervals in June and September caused a significant drop in exports.
Maintenance in Norway in June already dropped gas exports to 78 TWh, 14 percent below the five-year average. However, multiple maintenance extensions in September reduced gas deliveries from Europe’s largest gas supplier to around 58 TWh – 30 percent lower than the 2018- 2022 average.
Algeria increases gas exports
Algeria supplied nearly 180 TWh of natural gas to the EU in April-September, via pipelines to Italy (135 TWh) and Spain (45 TWh). Strong exports to Italy in particular ensured that the North African country’s gas exports (via pipeline) were almost 16 percent above the five-year average.
Azerbaijan increased its gas exports via the TAP pipeline to the landing point in Italy to nearly 63 TWh in the last six months, 7 percent above the average in recent years since deliveries began.
Russia delivered 135 TWh to the EU between April and September via its remaining transit pipelines through Ukraine and Turkey. Strong gas flows on the Turkstream pipeline boosted exports at the Bulgarian-Turkish Strandzha interconnector to 70 TWh.
USA dominates European LNG supply
LNG shipments in Europe were 797 TWh in the summer months, about 41 percent above the five-year average. However, since the record month of April, when 163 TWh were sent out, LNG shipments from European terminals have steadily declined, most recently falling to 105 TWh in September.
European countries imported 803 LNG shiploads in the last six months. The U.S. was the largest supplier to Europe with 342 LNG shipments, followed by Russia with 101 shipments, Qatar with 95 cargoes, and Algeria with 93 cargoes.
France was the largest importer to Europe with a total of 183 LNG deliveries, followed by Spain with 138 deliveries and the Netherlands with 137 deliveries. A total of 33 LNG shiploads were imported at the three floating LNG terminals in Germany.