Europe’s Demand for LNG Set to Peak in 2024 as Crisis Fades
- Europe’s energy regulator says LNG demand is projected to fall
- EU remains quite reliant on Russian LNG supplies, ACER says
This article is for subscribers only.
The European Union’s demand for liquefied natural gas, which provided a key lifeline during the energy crisis, will likely peak this year as the region accelerates its renewables transition, the bloc’s energy watchdog said.
If renewable targets are fully met, “the gas demand reduction foreseen by 2030 will be slightly over 200 billion cubic meters relative to 2019,” according to a report from the Agency for the Cooperation of Energy Regulators. That figure is more than the EU’s annual Russian imports before the war.