European LNG imports decline again in December

In December 2023, European LNG imports experienced a sixth consecutive y-o-y decline, marking a significant drop of 17% (2.25 Mt) to 11.32 Mt. This represents the most substantial monthly y-o-y reduction in LNG imports throughout 2023. The weakened LNG imports in the region can be attributed to reduced gas consumption, elevated gas storage levels, diminished gas production and a widening spot LNG price difference between Asia Pacific and Europe. Among European countries, Belgium, France, Lithuania, Spain and the UK contributed to the decline of LNG imports, counterbalanced by increased imports in Germany and the Netherlands. Source: GECF