The entry of liquefied natural gas (LNG) into the European market reached record levels in April 2023, exceeding the volume of 12 billion cubic meters. In this respect informs Interfax refers to data from Gas Infrastructure Europe.
In April, LNG inflows into Europe updated the historical maximum. LNG terminals sent 12,073 billion cubic meters to the gas transmission grid. The previous maximum was recorded in December 2022 (11.9 billion cubic meters).
The publication noted that the spot gas price continues to decline gradually and has already reached $437 per thousand cubic meters. Wind power generation accounted for only 13% of the entire region’s energy needs.
In addition, Europe continues to pump gas to underground storage facilities. Thus, the current level of reserves is 59.6%, or 20 bps, above the average of the last five years for the same period.
May 1, Yukio Kani, chairman of Japanese energy group Jera (the world’s largest LNG buyer) declarationLNG prices may increase in 2023. According to him, restrictions related to the coronavirus pandemic and warm winter in China have reduced fuel demand, so LNG spot prices have dropped significantly compared to 2022.