ব্যঙ্গাত্মক বর্ণনা এবং ফরেক্সের প্রবেশদ্বার বিন্যাস
Running out of gas, Europe seeks to ramp up LNG imports
The gas issue threatens to derail Europe’s economy. Natural gas reserves in the EU are depleting rapidly, demanding determined efforts to resolve the situation.
According to a MUFG report, the EU authorities plan to increase liquefied natural gas (LNG) imports to meet its storage targets for 2025. Analysts note that the European natural gas reserves are dwindling at an alarming rate.
Specialists estimate that the pace of LNG depletion this winter is greatly faster than during the same period in 2024. Currently, the average daily withdrawal stands at 350 million cubic meters, compared to 220 million cubic meters per day last year.
Data from Gas Infrastructure Europe reveals that European gas storage facilities are currently 64% full, nearly 15% less than in the same period last year. MUFG forecasts that EU gas reserves will drop to 34% of total capacity by the end of winter.
Europe will need to increase LNG imports by 30% year-on-year to achieve the EU’s storage target of 90% by the start of the next winter season, beginning in October 2025.
The pricing situation for natural gas also leaves much to be desired. The benchmark Dutch TTF gas is currently trading 1.7% lower, at €46.22 per megawatt-hour. Analysts believe that the rising demand for LNG imports could reshape price dynamics in the energy market.
© InstaFintech Group
