The European LNG market saw a historic surge in April 2023, with deliveries surpassing 12 billion cubic meters. According to Gas Infrastructure Europe data reported by Interfax, these record inflows reflect a new high point for LNG entering Europe through its supply network. Analysts note that this milestone marks a continuation of a rising trend in LNG availability as global trade patterns adjust to evolving energy needs.
In April, LNG flows to European gas networks reached a fresh peak. LNG terminals delivered 12,073 billion cubic meters into the gas transmission system, setting a new reference figure beyond the previous record from December 2022, which stood at 11.9 billion cubic meters. The sustained strength of LNG arrivals underscores the role of liquefied gas in balancing supply and demand across the continent amid varying seasonal and weather-related influences.
Market energy metrics show a gradual easing in spot gas prices, which have declined in tandem with broader commodity trends. Current spot pricing sits around the $437 per thousand cubic meters level, reflecting ongoing price normalization after earlier volatility. Meanwhile, wind generation accounted for a modest share of the region’s electricity mix, contributing roughly 13 percent of total energy output during the period described. This highlights continued reliance on gas and other sources to maintain grid reliability and meet demand when wind output is subdued.
European gas storage activity continued alongside supply inflows. Storage volumes have remained elevated, with reserve levels around 59.6 percent and a modest premium above the five-year average for the same period. This storage posture supports security of supply through upcoming seasons and provides flexibility as market dynamics evolve with weather, maintenance, and demand shifts. Markers from industry participants indicate that storage strategy remains central to managing price risk and ensuring steady deliveries across multiple markets.
Industry voices from the Asia-Pacific energy sector commented on LNG price trajectories for 2023. Yukio Kani, chair of Jera, noted that price levels may rise later in the year as supply adjustments, pandemic-related constraints, and evolving demand patterns interact. He pointed out that an earlier drop in LNG spot prices in 2022 was driven by reduced requirements from pandemic restrictions and the unusually warm winter in China, which temporarily dampened demand. Market observers will continue to monitor how these factors influence pricing, contract dynamics, and global LNG trade balances in the months ahead. Source context: Gas Infrastructure Europe reports and industry commentary from Jera. [Citation: Gas Infrastructure Europe; Jera statements]