Page 149 - RusRPTJul24

9.1.1d LNG news
The flows of liquefied natural gas (LNG) from European terminals to the EU’s gas transport system in May hit the lowest level since December 2021, according to data provided by Gas Infrastructure Europe (GIE).
LNG supplies from terminals to Europe’s gas transport system decreased dramatically in May reaching 9.1 bln cubic meters, down by 13% month-on-month and by 25% year-on-year, which was the lowest level since December 2021.
Total LNG supplies from terminals to Europe’s gas transport system has reached around 50.3 bln cubic meters year-to-date, which is 10.8% lower than in the same period last year.
The share of LNG has been the largest among sources of gas supply to Europe in 2024, standing at 32%, according to figures provided by the European Network of Transmission System Operators for Gas (ENTSOG) as of May 29. Second come supplies from North Sea, mainly Norway’s gas (25%) followed by withdrawal from underground gas storage facilities (18%).
The share of gas supplies from the East (Russian gas, gas supplies from Ukraine, as well as withdrawal of their gas from Ukrainian underground storage facilities by European companies) equaled 9.42%, which is higher than supplies from the UK (2.6%) and North Africa (9%).
Sweden is considering unilaterally blocking imports of Russian liquefied natural gas (LNG) if Hungary prevents or manages to ease the EU's proposed sanctions against Russia. Bloomberg reported on May 30 with reference to Ebba Busch, Minister for Energy, Business and Industry of Sweden, on the sidelines of a ministerial meeting in Brussels. Although Swedish gas imports from Russia are small, any measures would reflect the growing impatience of member states with Hungary's constant obstruction of Ukraine's aid and sanctions.
Europe’s gas surplus narrows as LNG redirected to Asia. Europe’s gas storage has got off to an unusually slow start to the refill season, narrowing the record seasonal surplus inherited from last winter and boosting prices back well above the long-term average.
Inventories in the European Union and the United Kingdom have accumulated by just 148 terawatt-hours (TWh), or 2.1 TWh per day, since March 31, data from Gas Infrastructure Europe (GIE) show.
149 RUSSIA Country Report July 2024 www.intellinews.com