Highlights: European gas demand at lowest in ten years, report says. European gas demand has fallen by 20% since 2022. The conflict in Ukraine marked a real turning point for gas consumption in Europe. Vladimir Putin also encouraged Europeans to turn more towards LNG, transported by ship. Europe imported, first of all, American LNG for more than 75 billion euros. Russia comes in second place, with nearly 24 billion, followed by Qatar. Global demand for LNG could peak as early as 2025.

European gas demand (European Union, United Kingdom, Norway and Turkey) has fallen by 20% since the conflict in Ukraine, but imports of LNG, Russian liquefied natural gas, are increasing.…

European gas demand at lowest in ten years, report says

European gas demand (European Union, United Kingdom, Norway and Turkey) has fallen by 20% since the conflict in Ukraine, but imports of LNG, Russian liquefied natural gas, are increasing. This is what emerges from a study by the think tank, the Institute for Energy Economics and Financial Analysis (IEEFA) published this Wednesday, February 21, 2024.

European gas demand has fallen by 20% since 2022. © CC0 Pixabay/Magnascan

By: RFI Follow

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Gas consumption in Europe [EU, United Kingdom, Norway and Turkey, editor's note] fell in 2023 to its lowest level in ten years, as countries intensify their energy efficiency measures and the deployment of renewable energy

»,

Indicates the IEEFA in this report

. More precisely, it fell to 452 billion m³, below the consumption of 2014 (472 billion m³), according to the study. The conflict in Ukraine marked a real turning point for gas consumption in Europe.

Putin steered Europeans towards LNG

By closing the tap on Russian gas transiting by pipeline, Vladimir Putin also encouraged Europeans to turn more towards LNG, transported by ship. In value terms, LNG sales to Europe for 2022 and 2023 amounted to more than €170 billion. Europe imported, first of all, American LNG for more than 75 billion euros. But Russia comes in second place, with nearly 24 billion, followed by Qatar. A trend that is expected to continue. Global demand for LNG could peak as early as 2025.

France, second European importer of Russian LNG

From Russia, LNG deliveries to Europe increased by 11% between 2021 and 2023. They doubled to Spain, tripled to Belgium. France, despite a 35% decline in its imports of Russian LNG over the past year, remained the second largest importer of Russian LNG on the Old Continent.

According to the study, another factor explains this “de-consumption” of gas. The European energy system has also become more diversified, with the deployment of renewable energies.

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European gas demand at lowest in ten years, report says

European gas demand at lowest in ten years, report says

Putin steered Europeans towards LNG

France, second European importer of Russian LNG

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