LNG Market Outlook: Energy Security Concerns Rising in Europe

This current feature was extracted from the latest edition of Poten’s LNG Market Outlook, a monthly service published on October 26, 2023.

European LNG imports fell between August and September, from 8.8 MMt to 7.6 MMt. Storage levels continued to build, alleviating concerns of shortages during the winter heating season, which could be aided by expectations of a mild upcoming winter.</p?

The LNG import forecast has been amended slightly lower, with the largest changes in the summer months of 2024 and 2025, resulting in a little more seasonality in the forecast. LNG imports for 2023 have been lowered from 127 MMt to 126.5 MMt, from 129.3 MMt to 128.3 MMt in 2024 and from 131.9 MMt to 131.2 MMt in 2025.

LNG imports for the region have also been lowered for 4Q 2023 – they may be higher if energy security concerns are validated by a cessation of pipeline supply from the Middle East due to the war in Israel and a subsequent loss of Egyptian LNG cargoes.

To read the full analysis, please click here.