For the first time, Europe imported more liquefied natural gas than pipeline gas.
According to Institute of Energy data, imports of liquefied natural gas to Europe in 2022 exceeded the volume of pipeline imports for the first time. This suggests that the continent is rapidly rebuilding its energy infrastructure while cutting ties with Russia following its invasion of Ukraine.
European pipeline gas imports were around 151 billion cubic meters last year, up from 232 billion a year earlier. The 35% year-on-year drop corresponds with LNG imports rising to 170 billion cubic meters in 2022 from 108 billion a year earlier.
Although Europe’s appetite for LNG has grown, Asia is still the largest importer of the fuel. According to data, global LNG trade accounted for 56% of all interregional gas trade last year. Russia’s share of global pipeline exports fell to 29% in 2022 from about 43% on average over the previous ten years.