Europe's LNG imports fell to a three-year low in August

Imports of liquefied natural gas (LNG) into Europe fell to 6 million tonnes (8.16 billion m3) in August, nearly 2 million tonnes lower year on year and the lowest monthly figure since September 2021. Foreign news outlet Montel reported, citing preliminary data from Kpler.

Despite the complex geopolitical situation, involving the ongoing war in Ukraine and the conflict in the Middle East, among other factors, no significant disruptions to LNG supply have been observed so far. This has allowed Europe to continue filling its natural gas storage facilities ahead of the coming winter. According to Gas Infrastructure Europe statistics, EU gas storage facilities were more than 92% full at the beginning of September.

Full storage facilities and continued relatively high pipeline deliveries of natural gas to EU countries mean there is less need to import LNG. Imports have fallen steadily this year since March, when they stood at around 109 TWh, to just under 74 TWh in August.

Analysts say the LNG supply situation is stable. Global exports reached 31 million tonnes in August, slightly more than a year earlier.

"Global LNG supply is in good shape for now," said Ulrich Weber, an analyst at LSEG.

According to analysts, the decline in LNG deliveries to Europe was offset by higher deliveries to Asia, where traders bought nearly 23 million tonnes. This is the highest monthly figure so far this year.