#lng market

[emeriobanque]

LNG Market Still Under Risk Of Return To 2022 Conditions: IGU

The prices of Liquified Natural Gas (LNG) have eased from the record high after Russia invaded Ukraine. But the risk of a return to 2022 market condition remains high, the International Gas Union (IGU) said in a report.

The European Union remains strongly reliant on the spot market to secure LNG supplies, with about 70% of its 2022 imports sourced through spot buying 2022, the IGU said in its World LNG Report published on Wednesday. It said this would increase the volatility of European gas prices.

Read more: https://www.emeriobanque.com/news/lng-market-still-under-risk

[electronalytics]

LNG Fuelling Station Market Key Players, End User Demand and Analysis Growth Trends by 2032

The LNG (liquefied natural gas) fueling station market has been experiencing significant growth in recent years. LNG is a cleaner-burning fuel compared to traditional petroleum-based fuels, making it an attractive option for various applications, especially in the transportation sector. Here's an overview of the LNG fueling station market:

Report Description:

Attribute

Description

Market Size

Revenue (USD Billion)

Market size value in 2022

USD 8.1 billion

Market size value in 2032

USD 17.3 billion

CAGR (2023 to 2032)

7.9%

Market Drivers:

Environmental Regulations: Stricter emission standards and regulations to reduce greenhouse gas emissions have driven the adoption of cleaner fuels like LNG.

Cost-Effectiveness: LNG can offer cost advantages over diesel and gasoline, particularly in regions where natural gas is abundant and relatively inexpensive.

Energy Security: LNG provides an alternative fuel source, reducing dependence on imported oil and enhancing energy security.

Technological Advancements: Developments in LNG storage and handling technologies have made the construction and operation of LNG fueling stations more feasible and efficient.

Applications:

Heavy-Duty Vehicles: LNG is commonly used as a fuel for long-haul trucks, buses, and other heavy-duty vehicles, offering extended driving ranges and reduced emissions.

Marine Transportation: LNG is increasingly being used as a fuel for ships, including cargo vessels and ferries, due to its environmental benefits and compliance with stricter marine emission regulations.

Industrial Sector: LNG fueling stations are also utilized in industries where natural gas is a primary energy source, such as mining, manufacturing, and power generation.

Market Outlook:

Growing Infrastructure: Governments and private companies are investing in the development of LNG infrastructure, including fueling stations, to support the expanding demand for LNG as a transportation fuel.

Regional Expansion: LNG fueling stations are being established in various regions globally, with significant growth observed in North America, Europe, and Asia-Pacific.

Collaborations and Partnerships: Energy companies, fuel station operators, and vehicle manufacturers are forming strategic alliances to promote the adoption of LNG and accelerate the expansion of LNG fueling station networks.

Technological Innovations: Ongoing research and development efforts are focused on improving LNG storage and distribution technologies, enhancing station efficiency, and exploring the potential of liquefied biogas (LBG) as a renewable alternative to LNG.

Challenges:

Initial Infrastructure Costs: Establishing LNG fueling stations requires significant upfront investment, including storage tanks, dispensers, and safety measures, which can be a barrier to market entry.

Limited Market Awareness: Despite the environmental and economic advantages, there is still a need for greater awareness and education about LNG as a viable fuel option.

Regulatory Support: Governments can play a crucial role by providing supportive policies, incentives, and regulations that promote the adoption of LNG and facilitate the growth of the fueling station infrastructure.

Several key factors contribute to the growth and development of the LNG fueling station market. These factors include:

1.Environmental Regulations and Policies: Stricter regulations aimed at reducing greenhouse gas emissions and promoting cleaner fuels have been a significant driver for the adoption of LNG as a transportation fuel. Governments and regulatory bodies are implementing policies and incentives to encourage the development of LNG infrastructure, including fueling stations.

2.Cost and Fuel Price Stability: LNG can provide cost advantages over traditional petroleum-based fuels, particularly in regions where natural gas is abundant and competitively priced. The stability of natural gas prices compared to the volatility of oil prices also makes LNG an attractive option for fleet operators and industries seeking fuel cost predictability.

3.Energy Security and Diversification: LNG offers an opportunity for countries to enhance their energy security by diversifying their fuel sources. This is particularly relevant for countries that have significant domestic natural gas resources but rely heavily on imported oil.

4.Advancements in LNG Technology: Technological advancements in LNG storage, transportation, and dispensing have made the construction and operation of fueling stations more efficient and cost-effective. Improved cryogenic storage tanks, vaporization systems, and dispensing equipment have contributed to the expansion of the LNG fueling infrastructure.

5.Increasing Adoption in Transportation Sector: The transportation industry, including heavy-duty vehicles and marine vessels, is increasingly adopting LNG as a fuel due to its lower emissions profile compared to diesel or gasoline. This demand from the transportation sector is driving the need for more LNG fueling stations to support the growing fleet of LNG-powered vehicles.

These key factors, along with ongoing technological advancements and supportive government policies, are expected to continue driving the growth of the LNG fueling station market in the coming years.

We recommend referring our Stringent datalytics firm, industry publications, and websites that specialize in providing market reports. These sources often offer comprehensive analysis, market trends, growth forecasts, competitive landscape, and other valuable insights into this market.

By visiting our website or contacting us directly, you can explore the availability of specific reports related to this market. These reports often require a purchase or subscription, but we provide comprehensive and in-depth information that can be valuable for businesses, investors, and individuals interested in this market.

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Market Segmentations:

Global Electrical Bushings Market: By Company • ABB • Siemens • GE • Eaton • Nexans • Bharat Heavy Electricals Limited • CG Power and Industrial Solutions • Elliot Industries • Gamma • Gipro GmbH • Hubbell • Polycast International • RHM International • Toshiba • Webster-Wilkinson Global Electrical Bushings Market: By Type • Oil Impregnated Paper (OIP) • Resin Impregnated Paper (RIP) • Others Global Electrical Bushings Market: By Application • Utilities • Industries • Others Global Electrical Bushings Market: Regional Analysis All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Electrical Bushings market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America

Visit Report Page for More Details: https://stringentdatalytics.com/reports/electrical-bushings-market/2719/

Reasons to Purchase Electrical Bushings Market Report:

• To obtain insights into industry trends and dynamics, including market size, growth rates, and important factors and difficulties. This study offers insightful information on these topics.

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• To comprehend consumer behaviour: these research studies can offer insightful information about customer behaviour, including preferences, spending patterns, and demographics.

• To assess market opportunities: These research studies can aid companies in assessing market chances, such as prospective new goods or services, fresh markets, and new trends.

• To make well-informed business decisions: These research reports give companies data-driven insights that they may use to plan their strategy, develop new products, and devise marketing and advertising plans.

In general, market research studies offer companies and organisations useful data that can aid in making decisions and maintaining competitiveness in their industry. They can offer a strong basis for decision-making, strategy formulation, and company planning.

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[123567-9qaaq9]

Informative Report on Bio LNG  Market | BIS Research

Bio LNG (Bio Liquefied Natural Gas) refers to a renewable form of liquefied natural gas produced from organic biomass sources, such as agricultural waste, food waste, sewage sludge, or other organic materials through anaerobic digestion or gasification processes. 

Bio LNG is considered a sustainable fuel alternative to traditional fossil-based LNG, as it can significantly reduce greenhouse gas emissions, especially when considering its life-cycle carbon footprint. 

The global bio-LNG market was valued at $618.4 million in 2022 and is anticipated to reach $3,607.2 million by 2032, witnessing a CAGR of 20.3% during the forecast period 2023-2032.

Bio LNG  Overview 

Bio LNG, or Bio Liquefied Natural Gas, is a renewable, low-carbon fuel derived from organic biomass sources, such as agricultural residues, food waste, and sewage sludge. The production process begins with the breakdown of organic matter through anaerobic digestion or gasification, which generates biogas. 

Benefits for BIO LNG Market 

One of the critical benefits of Bio LNG is its circular economy aspect, as it is derived from waste materials that would otherwise contribute to emissions. Furthermore, when produced from waste, it can be considered a nearly carbon-neutral or even carbon-negative fuel, depending on the feedstock and production method. This makes it highly attractive for industries aiming to meet stringent emissions regulations and achieve sustainability goals.

Download the report to understand better 

Market Segmentation

By Application 

By Source 

By Region 

Grab a look at our free sample page to know more click here ! 

 

Key Market Players 

TotalEnergies SE

Linde plc

MAKEEN Energy

Nordsol

BoxLNG Pvt. Ltd

For more reports visit our Advanced Materials Chemicals and Fuels Vertical Page ! 

Bio LNG  Market Drivers 

The following are the demand drivers for the global bio-LNG market:

•    Rising Environmental Concerns •    Increasing Number of LNG Trucks

The market is expected to face some limitations as well due to the following challenges:

•    Limited Availability of Feedstocks •    High Price of Bio-LNG as Compared to LNG

Recent Developments in the Bio LNG  Market

•  In February 2024, D-Wave Systems announced that its 1200+ qubit Advantage2 prototype would be available via its Leap real-time quantum cloud service. This allowed existing Leap subscribers to gain immediate access to the new hardware, and new users can sign up for Leap and receive up to one minute of complimentary use of the Advantage2 prototype alongside other quantum processor units and solvers offered by the platform. •  In December 2023, IBM announced the collaboration with Keio University, University of Tokyo, Yonsei University, Seoul National University, and University of Chicago to work together to support quantum education activities in Japan, Korea, and the U.S. •    In June 2023, Intel Corporation unveiled its latest quantum research chip, Tunnel Falls, a 12-qubit silicon chip, extending its availability to the quantum research community. This introduction of Tunnel Falls underscores the ongoing technological advancements in quantum computing, and the company’s focus on silicon-based qubits highlights the potential for scalability and integration with existing semiconductor manufacturing processes, which could drive broader adoption of quantum computing technologies across industries.

Conclusion 

The Bio LNG market is poised for significant growth as industries across the globe shift toward sustainable energy solutions to combat climate change and reduce carbon emissions. With its ability to leverage existing LNG infrastructure, Bio LNG presents a practical and scalable solution for sectors like heavy-duty transport, shipping, and industrial applications. 

Bio LNG’s potential for carbon neutrality, especially when produced from waste feedstocks, adds a compelling environmental benefit, making it a key player in the transition toward a circular economy.

[marketsndata]

https://www.marketsandata.com/industry-reports/uae-lng-market

[head-post]

Turkmenistan faces energy export setback as Turkey chooses new LNG deal

Turkmenistan’s hopes of organising its gas supplies to Turkey collapsed as Ankara signed a long-term agreement to buy liquefied natural gas (LNG), bne IntelliNews reported.

On 18 September, Turkey’s state-owned gas importer Botas agreed with France’s TotalEnergies to import 1.6 billion cubic metres of LNG per year from the US starting in 2027. A third deal was signed last May with ExxonMobil, with details undisclosed.

Despite Turkish imports from other countries, Ankara could potentially still be ready to receive Turkmen gas. Turkish Energy Minister Alparslan Bayraktar said on Friday that the country had the capacity to receive up to 80 bcm per year, but only needed about 50 bcm to meet its own demand.

If there is an export opportunity and we can reach an agreement with customers in Europe, we can import LNG from many different sources.

Among possible gas exporters to Turkey, he named the United States, Qatar, Oman, and Trinidad and Tobago, without mentioning Turkmenistan.

Back in March, Turkmen President Serdar Berdimuhamedov and his Turkish counterpart Recep Tayyip Erdoğan signed a preliminary agreement covering a “swap deal” involving Turkmenistan, Turkey, and Iran. However, according to unverified reports, negotiations stalled when Turkmen officials proved unable to agree on a purchase price.

Read more HERE

[ravinderimarc]

In 2023, the market size reached US$ 50 Billion, and it's expected to nearly double by 2032, reaching US$ 94.2 Billion. The rising demand for LNG as a cleaner, efficient energy source, especially in the automotive industry, is fueling this growth. Did you know floating LNG facilities are a game-changer?

[businessindustry]

Liquefied Natural Gas (LNG) Liquefaction Equipment Market Analysis & Forecasts 2024-2032

The Reports and Insights, a leading market research company, has recently releases report titled “Liquefied Natural Gas (LNG) Liquefaction Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Liquefied Natural Gas (LNG) Liquefaction Equipment Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Liquefied Natural Gas (LNG) Liquefaction Equipment Market?

The Liquefied Natural Gas (LNG) liquefaction equipment market size reached US$ 811.2 Million in 2023. Looking forward, Reports and Insights expects the market to reach US$ 1,226.5 Million by 2032, exhibiting a growth rate (CAGR) of 4.7% during 2024-2032.

What are Liquefied Natural Gas (LNG) Liquefaction Equipment?                                                                                                                                                                            

Liquefied Natural Gas (LNG) liquefaction equipment is utilized to convert natural gas into its liquid state for more convenient transportation and storage. This process involves lowering the temperature of the gas to -162 degrees Celsius, causing it to condense into a clear, colorless, and non-toxic liquid. The primary components of LNG liquefaction equipment include compressors, heat exchangers, and cryogenic storage tanks. Compressors elevate the gas pressure before it enters the heat exchangers, where it is cooled using refrigerants. Once cooled, the gas is stored in cryogenic tanks until it is ready for shipment. This equipment is engineered to function efficiently under extremely low temperatures and high pressures, ensuring the safe and dependable production of LNG.

Request for a sample copy with detail analysis: https://www.reportsandinsights.com/sample-request/1765

What are the growth prospects and trends in the Liquefied Natural Gas (LNG) Liquefaction Equipment industry?

The liquefied natural gas (LNG) liquefaction equipment market growth is driven by various factors. The market for Liquefied Natural Gas (LNG) liquefaction equipment is experiencing notable expansion due to the increasing global demand for natural gas as a cleaner energy alternative. This growth is marked by the continual development of more advanced and efficient liquefaction technologies to meet the rising need for LNG. Key drivers include the ongoing expansion of LNG infrastructure, particularly in emerging markets, and the growing adoption of LNG as a fuel in various industries including transportation. Moreover, innovations in liquefaction equipment design, such as modular and space-saving units, are improving operational efficiency and reducing upfront costs. However, challenges such as high initial investments and stringent regulatory standards may pose obstacles to market growth. Hence, all these factors contribute to liquefied natural gas (LNG) liquefaction equipment market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

By Equipment Type:

Liquefaction Units

Heat Exchangers

Compressors

Storage Tanks

Pumps

Others

By Capacity:

Small-Scale (<0.5 MTPA)

Mid-Scale (0.5-2 MTPA)

Large-Scale (>2 MTPA)

By Process Cycle:

Cascade Process

Mixed Refrigerant Process

Shell-And-Tube Process

Others

By Technology:

Conventional LNG Liquefaction

Floating LNG Liquefaction

Modular LNG Liquefaction

By End-Use Industry:

Power Generation

Transportation

Industrial

Residential & Commercial

By Application:

Export/Import Terminals

Bunkering Facilities

Peak Shaving Plants

Distributed LNG Production Units

Segmentation By Region:

North America:

United States

Canada

Europe:

Germany

The U.K.

France

Spain

Italy

Russia

Poland

BENELUX

NORDIC

Rest of Europe

Asia Pacific:

China

Japan

India

South Korea

ASEAN

Australia & New Zealand

Rest of Asia Pacific

Latin America:

Brazil

Mexico

Argentina

Middle East & Africa:

Saudi Arabia

South Africa

United Arab Emirates

Israel

Who are the key players operating in the industry?

The report covers the major market players including:

Air Products and Chemicals, Inc.

Linde plc

TechnipFMC plc

Siemens Energy AG

Chart Industries, Inc.

Mitsubishi Heavy Industries, Ltd.

General Electric Company

Bechtel Corporation

McDermott International, Inc.

Baker Hughes Company

Chiyoda Corporation

Saipem S.p.A.

JGC Corporation

Samsung Engineering Co., Ltd.

KBR, Inc.

View Full Report: https://www.reportsandinsights.com/report/Liquefied Natural Gas (LNG) Liquefaction Equipment-market

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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[downincmi]

LNG Bunkering Market: Fuelling the Green Revolution

Introduction to LNG Bunkering Liquefied natural gas (LNG) bunkering refers to the process of supplying LNG to ships for their engines. As an alternative marine fuel, LNG is gaining popularity due to its lower emission levels compared to other fossil fuels such as heavy fuel oil. The maritime industry has been exploring strategies to reduce both air pollution and greenhouse gas emissions from ships. The use of LNG as a marine fuel presents significant environmental benefits and is seen as an important transition fuel towards a decarbonized future. Regulatory Push for Greener Shipping International regulations have put increased pressure on the shipping industry to reduce both air pollution and greenhouse gas emissions. The International Maritime Organization (IMO) introduced stricter emission control areas with lower sulfur limits, pushing ship owners to find cleaner alternatives to comply. Starting in 2020, the global sulfur cap on marine fuel was reduced from 3.5% to 0.5%, significantly lowering sulfur oxide emissions. The IMO's ambitious GHG reduction strategy also aims to cut the sector's total annual emissions by at least 50% from 2008 levels by 2050. Faced with tightening environmental norms, LNG has emerged as one of the most viable options for ship owners looking to futureproof their fleets. Technological Advances Driving Infrastructure Development Over the past decade, technological advancements have made LNG bunkering commercially and operationally viable. New LNG containment systems with membrane tanks allow larger volumes of LNG to be transported safely. Dedicated LNG bunker vessels are being built with advanced vaporization capabilities. Containerized bunker storage units provide another flexible bunkering solution. Major ports are developing LNG fueling infrastructure like bunkering terminals and truck-to-ship supply to support the growing LNG-fueled fleet. Leading classification societies have released comprehensive guidelines for LNG bunker vessels and tank design. All these factors are enabling the broader uptake of LNG as a marine fuel on major shipping routes. Rising Deployment of LNG-powered Ships An increasing number of vessel owners and operators are retrofitting their vessels to use LNG or selecting LNG propulsion for newbuilding contracts. Almost 300 vessels either in operation or on order are now LNG-fueled across different ship segments including container ships, cruise vessels, car carriers and bulk carriers. Major Asian shipyards are actively developing LNG dual-fuel engine designs to meet this rising demand. Recent studies show that the global LNG-fuelled fleet is estimated to grow to over 2,000 ships by 2030. Major companies like CMA CGM, MSC and Hapag-Lloyd are deploying large LNG-powered containerships to service major East-West trades. The technology is also gaining ground in short-sea and inland waterways segments in Europe and Asia. Outlook for Further Market Expansion More supportive regulations, technological improvements and growing bunkering infrastructure are positive triggers for LNG to gain further adoption as a marine fuel in the coming decades. As early movers start reporting operational and economic benefits, additional ship owners are expected to embrace the transition. Developing low-carbon bio-LNG and synthetic LNG options can further improve the environmental credentials of LNG as a marine fuel. While challenges remain around standardized bunkering practices and supply availability globally, the LNG bunkering market is projected to experience strong expansion to meet demand from the rising LNG-fuelled fleet. National emission-cutting pledges and upcoming carbon-pricing mechanisms will likely strengthen the case for investments into cleaner marine fuels like LNG. The future looks promising for the growth of LNG as a commercially viable and more sustainable alternative for the global shipping industry.

[eninrac-consulting]

Natural Gas Utilization: Exploring the LNG Business and Market

The dynamic landscape of natural gas utilization has seen significant growth, particularly in the Liquefied Natural Gas (LNG) sector. This expansion is driven by the global demand for cleaner energy sources. The LNG market offers a versatile and efficient solution for transporting natural gas across vast distances, making it accessible to regions lacking pipeline infrastructure. This article delves into the intricacies of the LNG business, examining market trends, technological advancements, and future prospects for sustainable energy solutions.

[123567-9qaaq9]

Informative Report on Bio LNG  Market | BIS Research

Bio LNG (Bio Liquefied Natural Gas) refers to a renewable form of liquefied natural gas produced from organic biomass sources, such as agricultural waste, food waste, sewage sludge, or other organic materials through anaerobic digestion or gasification processes. 

Bio LNG is considered a sustainable fuel alternative to traditional fossil-based LNG, as it can significantly reduce greenhouse gas emissions, especially when considering its life-cycle carbon footprint. 

The global bio-LNG market was valued at $618.4 million in 2022 and is anticipated to reach $3,607.2 million by 2032, witnessing a CAGR of 20.3% during the forecast period 2023-2032.

Bio LNG  Overview 

Bio LNG, or Bio Liquefied Natural Gas, is a renewable, low-carbon fuel derived from organic biomass sources, such as agricultural residues, food waste, and sewage sludge. The production process begins with the breakdown of organic matter through anaerobic digestion or gasification, which generates biogas. 

Benefits for BIO LNG Market 

One of the critical benefits of Bio LNG is its circular economy aspect, as it is derived from waste materials that would otherwise contribute to emissions. Furthermore, when produced from waste, it can be considered a nearly carbon-neutral or even carbon-negative fuel, depending on the feedstock and production method. This makes it highly attractive for industries aiming to meet stringent emissions regulations and achieve sustainability goals.

Download the report to understand better 

Market Segmentation

By Application 

By Source 

By Region 

Grab a look at our free sample page to know more click here ! 

 

Key Market Players 

TotalEnergies SE

Linde plc

MAKEEN Energy

Nordsol

BoxLNG Pvt. Ltd

For more reports visit our Advanced Materials Chemicals and Fuels Vertical Page ! 

Bio LNG  Market Drivers 

The following are the demand drivers for the global bio-LNG market:

•    Rising Environmental Concerns •    Increasing Number of LNG Trucks

The market is expected to face some limitations as well due to the following challenges:

•    Limited Availability of Feedstocks •    High Price of Bio-LNG as Compared to LNG

Recent Developments in the Bio LNG  Market

•  In February 2024, D-Wave Systems announced that its 1200+ qubit Advantage2 prototype would be available via its Leap real-time quantum cloud service. This allowed existing Leap subscribers to gain immediate access to the new hardware, and new users can sign up for Leap and receive up to one minute of complimentary use of the Advantage2 prototype alongside other quantum processor units and solvers offered by the platform. •  In December 2023, IBM announced the collaboration with Keio University, University of Tokyo, Yonsei University, Seoul National University, and University of Chicago to work together to support quantum education activities in Japan, Korea, and the U.S. •    In June 2023, Intel Corporation unveiled its latest quantum research chip, Tunnel Falls, a 12-qubit silicon chip, extending its availability to the quantum research community. This introduction of Tunnel Falls underscores the ongoing technological advancements in quantum computing, and the company’s focus on silicon-based qubits highlights the potential for scalability and integration with existing semiconductor manufacturing processes, which could drive broader adoption of quantum computing technologies across industries.

Conclusion 

The Bio LNG market is poised for significant growth as industries across the globe shift toward sustainable energy solutions to combat climate change and reduce carbon emissions. With its ability to leverage existing LNG infrastructure, Bio LNG presents a practical and scalable solution for sectors like heavy-duty transport, shipping, and industrial applications. 

Bio LNG’s potential for carbon neutrality, especially when produced from waste feedstocks, adds a compelling environmental benefit, making it a key player in the transition toward a circular economy.

[marketsndata]

[head-post]

Energy shortage concerns amid trade recovery

European gas reserves are full, with regional demand declining, but gas prices remain high amid concerns that military conflicts will affect supplies, according to Bloomberg.

Gas storage facilities were 90% full of total capacity as of 19 August. That is 10 weeks ahead of the official target of 1 November. Theoretically, that should be enough, but experts advise to be cautious.

Natural gas surpluses have been dwindling since early spring as Europe has been unable to attract liquefied natural gas (LNG) cargoes at the same pace as it did in 2022 and 2023. However, the EU can buy this LNG from anywhere in the world, compensating for the loss of Russian pipeline gas supplies.

Europe bought a lot of LNG in 2022 and 2023, benefiting from lower demand in China. However, this year Europe faces tougher competition, not only from Beijing but also from smaller buyers in Asia. As a result, European LNG imports this summer were 15-25 per cent lower than in the same periods of the previous two years.

Winter is coming

Over the past two years, the El Niño phenomenon of rising global temperatures has helped reduce the impact of the energy crisis on the continent. However, El Niño is fading fast, and meteorologists say that from October or November, the opposite weather trend, called La Niña, is likely to prevail. In that case, Europe could face a normal or even colder winter.

Moreover, Europe still buys Russian natural gas, including via a pipeline through Ukraine. Even more than three years after the war in Ukraine broke out, Austria, Slovakia, Hungaryб and Italy are still heavily dependent on Russian gas. When the pipeline’s key transit contract expires at the end of 2024, the continent could be at risk.

Current gas prices are much lower than in 2022, but still double the pre-war level. If all goes well, Europe will have enough gas. But it would not be enough if anything went wrong, experts warned.

EU overcoming trade crisis

Despite energy challenges, the EU is showing a steady recovery in its trade balance, according to Eurostat data. In the second quarter of 2024, the EU’s trade surplus reached €40.4bn, marking the fourth consecutive quarter with a positive result.

The turning point came in the third quarter of 2023, when the EU posted a surplus of €18bn for the first time. Since then, the trend has strengthened, indicating the successful substitution of Russian supplies with alternative sources.

The bloc will reportedly tighten control over companies with Russian participation, following US demands. According to Moody’s, there are about 46,000 firms in the EU with more than 40 per cent Russian ownership, most concentrated in the Czech Republic, Bulgaria, and Germany.

However, analysts warn of possible losses, staff cuts and risks for European companies doing business with Russia.

Read more HERE