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Wednesday, 27 April 22
EUROPEAN UNION'S LNG IMPORTS - BANCHERO COSTA
 In 2021, the European Union (27) was the third largest seaborne importer of LNG in the world, with a 15.8% share.
It followed Mainland China with 20.2% and Japan with a 19.7% share. LNG imports into Europe seriously jumped in 2019, with the start of a number of projects, says Banchero Costa in its latest weekly report.
According to Banchero Costa, in the 12 months of 2019, European LNG imports jumped by +65.4% y-o-y to 65.6 mln tonnes, from 39.7 mln tonnes in 2018. Since then, volumes have been drifting down, due to more limited energy demand, at a time of Covid lockdowns and a weak economy.
In 2020, Banchero Costa said, the EU imported 62.8 mln tonnes of LNG, which was -4.2% down from 2019 and In 2021, imports dwindled further, with just 58.5 mln tonnes, down a further -6.8% y-o-y from 2020.
Things however took a dramatic turn in the first quarter of 2022, with the Russian invasion of Ukraine pushing Europe to secure alternative sources of energy, Banchero Costa said.
In the first 3 months of 2022, according to Banchero Costa report, the EU imported 22.1 mln tonnes of seaborne LNG, up by +72.8% y-o-y from the 12.8 mln tonnes in the first quarter of 2021. This also made the EU into the world’s top importer of LNG so far this year, with a 20.9% share of global imports, ahead of Japan’s 19.7% and Mainland China’s 15.7% In terms of individual countries, this was 6.4 mln t to France, 5.4 mln t to Spain, 2.6 mln t to the Netherlands, 2.2 mln t to Italy, 2.0 mln t to Belgium, 1.2 mln t to Portugal, 0.8 mln t to Poland, 0.7 mln t Greece. Equally significant growth has been seen in imports into the United Kingdom.
Banchero Costa further noted that, in the first quarter of 2022, LNG imports into the UK jumped by +51.3% y-o-y to 5.7 mln tonnes, from, 3.8 mln tonnes in 1Q 2021. On the other hand, LNG imports into China slowed down somewhat from record levels last year. Volumes 1Q 2022 declined by -13.9% y-o-y to 16.7 mln tonnes, from 19.4 mln tonnes in 1Q 2021.
Banchero Costa also noted that, imports into Japan also declined in 1Q 2022 by -10.8% y-o-y to 20.9 mln tonnes from 23.5 mln t in 1Q 2021. In terms of sources for LNG shipments into Europe, there has been a huge huge jump in volumes from the United States.
In the first 3 months of 2022, the EU imported 10.4 mln tonnes of LNG from the USA, up +234.8% y-o-y from 3.1 mln tonnes in 1Q 2021. The USA accounted for 46.9% of seaborne LNG imports into Europe in the first quarter of 2022.
Despite all the talk of sanctions, according to Banchero Costa’s report, volumes from Russia have not declined, far from it. In 1Q 2022, the EU imported 4.1 mln tonnes of LNG from Russia, up by +49.1% y-o-y compared to 2.7 mln tonnes in 1Q 2021. This was an all-time record. The EU has never imported as much LNG from Russia as this year. In fact, March 2022 was an all-time record month for Russian LNG imports into the EU. In March 2022, the EU imported 1.6 mln tonnes of LNG from Russia, up +14.5% m-o-m from February 2022, and up +34.3% y-o-y from March 2021.
In 1Q 2022, Russia accounted for 18.3% of the EU’s seaborne LNG imports. West Africa is now in third place amongst top suppliers to Europe, shipping 2.8 mln tonnes to the EU in Jan-Mar 2022, up +27.0% y-o-y. West Africa accounts for 12.7% of EU’s LNG imports. Imports from Qatar, on the other hand, have continued to decline. In 1Q 2022, the EU imported 2.2 mln t of LNG from Qatar, down -2.0% yo-y from 2.3 mln t in 1Q 2021. Qatar accounts for 10.1% of the EU’s total seaborne LNG imports. Shipments from North Africa to the EU also declined by -13.5% y-o-y to 1.7 mln t in 1Q 2022, from a record high 1.9 mln t in 1Q 2021, Banchero Costa report says.
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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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