LNG imports to Europe in 2022 will increase by 65% ​​- to 145 billion cubic meters, - Kpler

According to the results of 2022, the import of LNG to Europe will increase by 65% ​​- to 145 billion cubic meters, reports the analytical company Kpler, adding that in order to achieve

the EU's goals to fill the underground gas storages (UGS) will require at least 8 billion cubic meters of LNG per month. According to Kpler, imports will support the recently announced plan of the European Commission

regarding the termination of russian gas supplies after the start of the war in Ukraine, partly due to the import of an additional 50 billion cubic meters of LNG.

In addition, about 34 billion cubic meters of gas will be replaced by increasing electricity production from renewable energy sources, as well as improving energy efficiency, to accumulate 80% of UGS by November 1.

Kpler also predicts that by the end of the year, Europe will increase regasification capacity by 13.6-15 billion cubic meters in Germany, the Netherlands, Finland, and Estonia.

The company said that weak demand in Asia "leaves room for Europe" to add to growing LNG demand, given China's quarantine restrictions and lower demand due to high prices, most of the growth coming from the US.