European LNG imports may be approaching peak

European LNG demand is likely to reach its peak in 2024. This is due to reductions in structural gas demand driven by the EU’s ambitious decarbonisation goals. 19 global liquefaction projects under construction are set to boost LNG production by circa 200 million tonnes by 2030, equivalent to half of the current yearly trade. Around 75% of the LNG import capacity added in the EU since 2022 are Floating Storage and Regasification Units (FSRUs). Source: ACER