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Strategies & Market Trends : World Outlook

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From: Les H	2/18/2022 2:36:59 PM
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Europe Is Running Out Of Space For LNG By Irina Slav - Feb 18, 2022, 10:00 AM CST Due to high demand and fears that Russia might turn off its gas supply to Europe, the continent has been importing huge amounts of LNG. Now, Europe is fast running out of processing capacity for the gas and the added cost of squeezing more cargoes through other countries wouldn’t be viable. Currently, an estimated two-thirds of U.S. LNG cargoes are set to be delivered to European destinations, but those shipments may soon decline. oilprice.com The European Union has a limited capacity of LNG import terminals where the superchilled gas is regasified before it is sent along pipelines to its final destinations. Spain and France have the biggest import capacity in the EU, with the UK coming in second in Europe as a whole with 50 billion cubic meters in annual nameplate LNG import capacity. Germany, on the other hand, the biggest gas market in Europe, has zero LNG import terminals.

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