Europe Set To Raise LNG Imports As Regasification Capacity Jumps -- March 10, 2023

By Charles Kennedy, so you know it's a great article. 

Link here.

The EU will soon have 35 LNG regasification terminals, up from 27 currently, and the regasification capacity is set to increase to 227 bcm from 178 bcm, Sefcovic tweeted today after holding what he described as a "productive" virtual meeting with international gas suppliers. The EU is getting ready for more LNG by reinforcing its import capacity infrastructure, Sefcovic said.

Europe's biggest economy, Germany, plans to have as much as 70.7 million tons per year of LNG import capacity by 2030, which will make it the fourth-largest LNG import capacity holder in the world, Argus reported last month, citing plans by the German economy ministry and RWE.

Germany may end up using less LNG import capacity than it has planned to roll out this decade, but better safe than sorry, the chief executive of the top German utility, RWE, said in an interview with German business magazines Der Stern and Capital. .However, the race to ensure supply for next winter hasn't even started in earnest yet. Prices are set to hold higher than before the Russian invasion of Ukraine through the summer as Europe will face stiffer competition from Asia for LNG supply.

The 21st century: America's century.