In 2022, Europe imported record volumes of liquefied natural gas

Oleksiy Yarmolenko

In 2022, Europe imported a record amount of liquefied natural gas. It was intercepted in poorer Asian countries.

Reuters writes about it.

Overall, the world imported more liquefied natural gas in 2022 than ever before. Russiaʼs war in Ukraine led to the fact that the growth of supplies fell on rich European countries.

Total global LNG imports rose to 409 million tons last year from 386.5 million tons in 2021. At the same time, EU member states are still dependent on Russian LNG supplies — imports to Europe reached a record level in 2022: 15.95 million tons against 13.46 million tons in 2021.

At the same time, China imported LNG by 19.4% less than last year. The main reason was that Chinese buyers mostly do not enter the spot market, concluding only long- and medium-term contracts.

Japanʼs imports also fell, falling to 73.61 million tonnes in 2022 from 75.35 million tonnes in 2021, enough to overtake China. The volume of LNG imported by India has also decreased for the second year in a row.

Other Asian countries such as Pakistan and Bangladesh have also reduced LNG imports in 2022. Liquefied gas that did not reach Asia was bought up by European customers.

  • Putinʼs intention to turn energy into another weapon against Western countries, particularly against the European Union, and thereby influence politicians, has failed.
  • Warm weather was one of the key reasons that failed the energy terror. This was also facilitated by the wide diversification of gas supplies, primarily liquefied, which European countries managed to organize against the backdrop of a sharp reduction in pipeline gas supplies from Russia. In addition, the situation with gas supply was positively affected by the reduction in electricity and gas consumption directly in Europe.