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Recently, the US Energy Information Administration (EIA) released a forecast that by the end of 2024, Europe's import capacity of liquefied natural gas (LNG) will increase by more than 30%.
In response to the energy crisis triggered by the Russian-Ukrainian conflict, Germany and other EU countries are accelerating the construction
of LNG receiving bases.
The EU and the UK's LNG import capacity will increase by 34% by the end of 2024 compared to the end of 2021, adding 6.
8 billion cubic feet
per day, according to the EIA.
LNG receiving capacity in the EU and the UK has grown slowly over the past decade, growing by 16%
from 2012 to 2021.
After the Russian-Ukrainian conflict, Germany, France and Italy have successively introduced floating LNG storage and regasification units (FSRUs).
In addition, there are plans for
new and expanded onshore bases in the region.
LNG receiving bases require storage tanks and LNG gasification units
.
Including the permitting process, it may take 5 years or more to build these facilities on land
.
As a result, most of Europe plans to introduce floating bases, which will be completed in about three years
.
Due to the increase in European demand, the United States has also successively formulated LNG production plans
.
LNG production projects in southern Texas and Louisiana also have long-term supply contracts
with European companies.
