Energy Newsletter - January 2017

LNG in Europe 2016/2017: An Overview of LNG Import Terminals in Europe -

The increase in the supply of LNG to Europe in 2015 and the first half of 2016 was led by the UK and Italy, with other significant increases in Spain and Belgium. Greece, Portugal, The Netherlands and Sweden (which has only small-scale LNG capacity) demonstrated more moderate increases in net LNG imports. Net LNG imports in France and Turkey fell slightly over the same period; however, imports to France picked up significantly over the second half of 2016 as a result of nuclear outages. Between August 2016 and October 2016, France and Spain were Europe’s largest LNG importers - both importing 36 cargoes. Qatar was the largest exporter of LNG to Europe in 2015/2016 followed by Algeria, Nigeria and Norway.

Europe’s LNG terminals have the capacity to absorb much of the anticipated global LNG supply glut, and if European LNG prices remain competitive, it is expected that Europe will take on an increasingly important role as the LNG market of last resort. The growing role of LNG in Europe’s energy mix could have far-reaching implications for the region: European gas pipeline prices are likely to have to compete with LNG prices, and the regional nature of Europe’s gas markets is likely to erode. Gas produced from LNG will offer an alternative to coal and nuclear for power generation, and will help to balance a growing reliance on renewable energy in parts of Europe.

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