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Markets & Forecasts

European LNG imports slow as stocks hit new high

LNG imports in Europe have seen significant growth so far this year, but high stocks may put pressure on demand for spot LNG cargoes LNG imports in Europe have seen significant growth so far this year, but high stocks may put pressure on demand for spot LNG cargoes.
By Menelaos Vakalopoulos 23 September 2019 Europe & Russia / Supply & Demand 0 34610
LNG capacity utilisation vs storage fullness, 2019

EU gas storage levels have hit a record high for the time of year, averaging around 94% in mid-September – a year-on-year increase of 24%. Meanwhile, LNG capacity utilisation across the EU28 averaged around 39% over the first half of September, a 26% decrease from its peak of 53% in April but still almost 140% higher on annual basis, according to data from Gas Infrastructure Europe.

Low Asian spot LNG prices this summer combined with weak...