Europe can already It has passed through the period of peak liquefied natural gas production, and a large part of the rising inflation rate may go into blocked assets at the end of the decade This is what the Institute for Energy Economic and Financial Analysis (IEFA) said in a report, writes Oіlріse.
Total LNG imports in Europe have declined by 20% on an annual basis through the first half of 2024, according to IEEFA analysis. The institute includes the EC, the United Kingdom, Hungary and Turkey.
EC night fell by 11% in the first half of 2024 compared to the same period in 2023.
Despite the decline in LNG imports, many European countries continue to plan investments in new LNG export terminals. By 2030, the Institute for Energy Economics and Financial Analysis predicts that this could lead to over 300 billion cubic meters (bcm) of unused capacity in Europe, as well o The load is lower than the planned capacity and is expected to fall by the end of the tenth.
According to the Institute, LNG shipments from Europe are expected to fall by 11.2% this year to 148 billion. ĸyb. m, "which means that the continent is probably already at the peak of LNG demand".
Liquefied natural gas production in Europe is expected to fall further to 93 bcf by 2030, according to the Institute.
However, European countries continue to build LNG export terminals in an effort to avoid the energy crisis of 2022, when prices rise the economy and plunged millions of households into the cost of living.
Europe's largest economy, Germany, plans to have up to 70.7 million tons of liquefied natural gas import capacity per year by 2030, which will became the fourth-largest consumer of liquefied petroleum gas capacity gas in the world. Germany plans to have a total of 10 floating platforms for the expansion, some of which will be removed and replaced by the ship's gasification fleet once completed.
The need to have liquefied natural gas export terminals will most likely make Germany the fourth largest consumer of solar export capacity The Asian liquefied natural gas producers South Korea, China and Japan analyzed last year.
According to the Institute, lower prices and consumption of liquefied natural gas in Europe have already reduced the utilization rate of liquefied natural gas terminals n gas.
The forward rate of utilization of terminals in EC has fallen from 62.8% in the first half of 2023 to 47.2% in the first half of 2024, further reducing Inc the title for energy economics and financial analysis.