LNG imports down almost in all major EU importer countries

LNG imports down almost in all major EU importer countries

BAKU, Azerbaijan, Jan.14

By Leman Zeynalova – Trend:

After the minor decrease (3 percent) registered in Q2 2020, LNG imports in the EU fell by 15 percent in Q3 2020 year-on-year, Trend reports citing the European Commission.

“Looking at the three months of the quarter, EU LNG imports were respectively down by 4 percent in July, by 18 percent in August and by 13 percent in September 2020, in year-on-year comparison. This clearly reflects the impact of cancellation of LNG shipments during summer 2020, which was particularly intensive in the period of June-August 2020, and it especially concerned cargos from the US,” reads the European Commission’s report.

The quarterly LNG import in Q3 2020 was 18.5 bcm, decreasing from 21.7 bcm in Q3 2019, said the report.

“The total number of LNG cargoes arrived in the EU went down from 283 to 235 between the third quarters of 2019 and 2020. With the exception of Poland, LNG imports decreased in all major EU importer countries, and only in Sweden and Finland, both importing minor volumes, could we see an increase in Q3 2020 year-on-year.”

The report shows that over the last one-two years, gas hub prices in Europe remained aligned with their East Asian peers. “In Q3 2020 LNG price premium of the Asian markets reappeared which also might have impacted LNG imports in Europe. However, the Asian price premium did not seem to be sufficiently big in Q3 2020 that it could measurably result in cargo redirection from Europe towards Asia. Europe has a good geographical position, offering proximity to cargos from the Atlantic Basin, the Middle East and LNG of Russian origin (production at the Yamal Peninsula), resulting in favourable shipment costs.”

In the third quarter of 2020, Qatar became the largest LNG supplier to the EU, having a share of 29 percent of all LNG imports (7 percentage points up compared to Q2 2020). Russia was the second LNG import source for the EU, with a share of 16 percent in Q3 2020 (down from 18% in Q2 2020). Nigeria was the third biggest import source in Q3 2020, (with a market share of 15%), followed by Algeria (13 percent).

The United States was only the fifth LNG supplier in Q3 2020 for the EU, ensuring only 12 percent of the total imports, significantly down from 23 percent in Q2 2020. This clearly reflect the impact of LNG cargo cancellations, especially those of US origin, implying that European customers have more flexible conditions in their LNG contracts with US suppliers than with other countries (shorter duration of contracts, less take or pay type of provisions, etc.). Following the sudden fall in gas demand in Q2 2020 the most flexible way for European customers to accommodate supply to lower demand was to cancel shipments from the US. In Q3 2020 Norway had a share of 7 percent in total EU LNG imports, whereas Trinidad and Tobago ensured 5 percent of imports.

---

Follow the author on Twitter: @Lyaman_Zeyn

Subscribe to Trend in Google News! Subscribe
Number of flights from Iran’s Bushehr International Airport soars
Number of flights from Iran’s Bushehr International Airport soars
Passenger transportation via Iran's Abadan International Airport up
Passenger transportation via Iran's Abadan International Airport up
Visitor entrance through Georgian Batumi, Poti, Kulevi ports down
Visitor entrance through Georgian Batumi, Poti, Kulevi ports down
Loading Bars
Latest
Over 139 mln coronavirus vaccine shots given in Turkey to date
Iran's Energy Exchange announces products to be on sale on January 16
Azerbaijan is of great regional and global importance - American Jewish Committee
Azerbaijani Defense Ministry presents weekly review (VIDEO)
Georgia publishes COVID-19 data for January 16
National Bank of Georgia shares data on liabilities to non-residents
Kyrgyzstan logs 874 new COVID-19 cases
Iranian currency rates for January 16
Britain will no longer require COVID tests for fully vaccinated travellers
Argentina's COVID-19 tally surpasses 7,000,000
All synagogue hostages "out alive and safe" in U.S. Texas (UPDATE)
Russia, West are ‘on totally different tracks’ - Kremlin spokesman
Restoration work in liberated areas - foundation to Azerbaijan's further development
Philippines finalises deal to acquire missile system from India for $375 mn
Czech president opposes abuse of Olympic idea for political aims
Turkey confirms 63,967 daily COVID-19 cases
England opens COVID booster jab programme to 16- and 17-year olds
AICTE, 5ire partner to launch the world's biggest happiness blockchain
US hopes to continue security dialogue with Russia - Department of State
French 2021 budget deficit seen lower than expected at 7% of GDP -minister
Migrant caravan leaves Honduras en route to U.S.
Piyush Goyal suggests 5-point reform agenda for FCI
Omicron detected in Beijing as China battles COVID-19 clusters
UK seven-day COVID-19 infections down 33% on week before
Under pandemic cloud, 24k people to attend R-Day parade with protocols
Iran president eases COVID curbs as deaths fall
Covid-19 India highlights: India logs over 2.6 lakh cases, 402 deaths in a day
Apple to require employee proof of COVID-19 booster
Azerbaijan hands over one more citizen who got lost back to Armenia
Passenger vehicle dispatches slide 13% in December on chip shortage: SIAM
Israeli finance minister tests positive for coronavirus
We welcome beginning of Turkish-Armenian contacts - Deputy FM of Azerbaijan
Tsunami recorded in southwestern Japan, with waves of about 1.2 meters
20 attacks on healthcare facilities were committed during riots in Kazakhstan - Ministry of Health
CSTO peacekeepers will be withdrawn from Kazakhstan until January 19
10th century idol discovered in England, handed over to India
"Red level" of terrorist threat remains in three regions of Kazakhstan
Opening of Zangazur corridor to create new opportunities for region - Analysis
Representative delegation of Afghanistan arrived in Turkmenistan (PHOTO)
225 people die as result of riots in Kazakhstan
Azerbaijan to hold Technofest festival in 2022
Uzbekistan’s GDP grew by 7.4% in 2021 – President
Turkey eyes $35 billion in tourism revenues in 2022
Georgian Ministry of Health reduces quarantine period for fully vaccinated
Azerbaijan to hold auction for privatizing state properties
Baku Metro to receive four more new trains
Iran’s MOGPC could resume maximum crude oil extraction in short time
5.0-magnitude quake jolts eastern Iran
Iran’s Bahar Azadi gold coin price dips
IED found at Ghazipur flower market; defused, says report
Azerbaijan to hold Second Karabakh Economic Forum in 2022
Iran reveals COVID-19 data for January 15
World Bank continues digital development in Georgia
Turkmenistan considering purchasing road construction equipment from John Deere
Russia reports record high of 27,179 daily coronavirus cases since December 19
Georgia records drop in number of visitors from Turkmenistan
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 710 more COVID-19 cases, 260 recoveries
Former vice-minister of energy of Kazakhstan detained
Russian Rosselkhoznadzor expands list of livestock product suppliers to Uzbek market
Turkish company to build hybrid power plant in Turkmenistan
LUKOIL Uzbekistan Operating LLC opens tender for examination of calculations of production
President of Kazakhstan instructs to reform national security systems
Azerbaijan's offshore wind energy potential 20 times higher than installed capacity – deputy minister
Azerbaijan, Turkey eye holding joint digital transformation forum in late 2022
Iran's Oil Minister talks about energy plans with neighboring countries
Turkmenistan begins second stage of Balkan-Dashoguz power line construction
Number of flights from Iran’s Bushehr International Airport soars
Facebook's VR Oculus business probed by U.S. states
India better positioned to navigate any financial turbulence: UN body
Maruti Suzuki hikes vehicle prices by 4.3% to offset rise in input costs
India Inc says 'Aatmanirbhar Bharat' schemes help revive economy: Deloitte
Azerbaijan-Ukraine agreement in food safety to eliminate barriers between two countries
Georgia sees increase in cheese imports
Azerbaijan's pensioners to start receiving increased pensions following indexation
Iran’s NIORDC, Bank Mellat sign contract on transportation of oil products
Turkmenistan to launch construction of glycyrrhizic acid production plant
Weekly review of Azerbaijan’s energy market
Uzbek Central Bank notes increase in total assets of microcredit organizations
Chinese company intends to develop bilateral cooperation with Uzbek association
President Ilham Aliyev receives delegation led by Chief Executive Officer of American Jewish Committee (PHOTO/VIDEO)
Iran could become helium gas exporter in future - NIOC
Georgian Water and Power LLC announces tender on renovation works procurement in Tbilisi
Caspian Sea has huge potential for wind energy – Azerbaijani Deputy Energy Minister (VIDEO)
Passenger transportation via Iran's Abadan International Airport up
Georgia publishes COVID-19 data for January 15
U.S. households can order 4 free COVID-19 tests starting Jan. 19 - White House
State Social Protection Fund of Azerbaijan records increase in revenues
Uzbekistan shares domestic COVID-19 data for January 14
Georgia sees increase in visitors from Uzbekistan
IDB and OPEC Fund to finance construction of three ships for Turkmen fleet
Azerbaijani oil prices increase
Iran FM officially announces beginning of implementation of Iran-China long term deal
Iran to start construction of Persian Gulf Bridge
Iran begins new round of economic ties with Syria
Kazakhstan Railways opens tender to buy uninterruptible power systems
SOCAR Georgia Gas announces tender on construction, repair materials purchase
Iranian currency rates for January 15
Russia spent about $11.15 bln on coronavirus in 2021
Fatih Sultan Mehmet Bridge in Istanbul painted in colors of Azerbaijani flag
All news