LNG imports to Europe peak
The Russian invasion of Ukraine is having an impact on liquefied natural gas (LNG) transport routes around the world. According to a recent report by the maritime broker Banchero Costa, the European Union imported 22.1 million t of LNG by sea during Q1/2022, which represents a rise of 72.8% compared to the same period of 2021 (12.8 million). It also makes the EU the world's largest importer with a share of 20.9%, ahead of Japan (19.7%) and China (15.7 %). Both China and Japan saw a decline in LNG imports in Q1/2022.
According to Banchero Costa, there has also been a notable increase in LNG imports from USA to the EU. During the first three months of 2022, the EU imported 10.4 million t from the other side of the Atlantic, which represents an exceptional increase of 234.8% compared to the 3.1 million t in the same period of 2021.
USA held a 46.9% share of the EU’s seaborne LNG imports during Q1/2022. The Russian invasion of Ukraine has pushed Europe to secure alternative sources of energy and has reversed the downward trend of the last two years. (sh)