/ By tjchinafreight ivy / Shipping

EU imports of Russian LNG surge by 50%

Shipping brokerage Banchero Costa said in its latest weekly market report to Xinde Maritime that the EU's total LNG imports from Russia in the first quarter of this year soared by 50% year-on-year.

It is for this reason that the EU became the world's largest importer of LNG in the first quarter of 2022.

Europe frantically imported LNG in the first quarter

Europe frantically imported LNG in the first quarter
Europe frantically imported LNG in the first quarter

The latest data provided by Banchero Costa for Xinde Maritime Network shows that in 2021, the European Union (27 countries) is the world's third largest importer of seaborne LNG, accounting for 15.8% of global seaborne LNG imports

In 2021, China will be the world's largest LNG importer with a share of 20.2%, followed by Japan with 19.7%.

Earlier in 2020, the EU imported 62.8 million tonnes of LNG, down 4.2% from 2019.

In 2021, EU LNG imports will actually decrease further, to only 58.5 million tons, a further 6.8% drop from 2020.

But the turning point came so suddenly. In the first quarter of this year, with the outbreak of the Russian-Ukrainian conflict, dramatic changes took place.

In the first three months of 2022 (the first quarter of this year), the EU imported 22.1 million tons of LNG by sea, a jump of 72.8% from 12.8 million tons in the first quarter of 2021. This made the EU become the world's largest LNG importer in the first quarter, with a share of 20.9%!

The United States and Russia are the main sources of increased European imports

The United States and Russia are the main sources of increased European imports
The United States and Russia are the main sources of increased European imports

The US is a major incremental contributor to European LNG imports, with the EU importing 10.4 million tonnes of LNG from the US in the first three months of 2022, an increase of 234.8% from 3.1 million tonnes in the first quarter of 2021. In the first quarter of 2022, U.S. gas accounted for 46.9% of European seaborne LNG imports.

In the first quarter of 2022, the EU imported 4.1 million tons of LNG from Russia, an increase of 49.1% from the 2.7 million tons in the first quarter of 2021. This is an all-time high. The EU has never imported more LNG from Russia than this year. In the first quarter of 2022, Russia accounted for 18.3% of EU seaborne LNG imports.

In fact, March 2022, when the Russian-Ukrainian conflict broke out, is also the highest month in history for Russian gas imports into the EU.

In March 2022, the EU imported 1.6 million tonnes of LNG from Russia, a 14.5% increase from February 2022 and a 34.3% increase from March 2021.

/ By tjchinafreight ivy / Shipping

Over 20 ships awaiting loading in Qatar port! Global LNG shortages worsen

The global LNG shortage has worsened, with the number of empty ships waiting to unload from Qatar, the world's top exporter, to the highest level in nearly a year.

As many as 21 LNG carriers are currently awaiting shipments off the coast of Qatar, according to data compiled by Bloomberg. Analysts at Bloomberg New Energy Finance (NEF) pointed to the recent surge in empty ships waiting to be loaded, raising concerns that in the past few more than 20 vessels were waiting to be loaded at Qatari ports.

Bloomberg analysts believe there could be several reasons for the surge in empty ships, such as a technical problem at an LNG processing plant or upstream facilities reducing production, or Qatargas changing its maintenance schedule, but in this case it should be There won't be so many ships lined up to load because buyers are notified in advance.

Qatar’s LNG exports in February were well below the average for the same period over the past five years, and total LNG exports in March were estimated at 6.5 million tonnes, also lower than the same period in the previous two years.

The LNG ships have sailed back to Qatar after unloading in China, Japan, India and Italy, according to data compiled by Bloomberg. Typically, Qatar ships most of its LNG to Asian markets at this time of year, so Pacific buyers will be more sensitive to any supply disruption than Atlantic buyers.

Qatargas has yet to comment. Energy data provider Kayrros said Qatar Gas' No. 6 LNG liquefaction and purification plant was closed for more than a month before reopening on March 20.

Global LNG shortages intensify as Qatar exports dwindle and buyers in Asia and Europe try to find alternative sources of LNG outside of Russia, tightening the market and any supply disruption or production cuts will push up spot LNG prices.

Qatar Energy Minister Saad al-Kaabi said Qatar will continue to supply LNG to Europe and will not transfer LNG to other customers. Still, he refused to impose sanctions on Russia, reiterating that a complete ban on Russian gas supplies to Europe was "practically impossible". Qatar supplies LNG to some European countries in the form of convertible contracts.