BAKU, Azerbaijan, January 6. The EU witnessed a significant decline in its LNG imports in the third quarter of 2024, with total imports reaching 22 bcm, Trend reports.
According to the data from the European Commission, this marked a 15% reduction compared to the previous quarter and a year-on-year drop of 23%, amounting to a decrease of 6.3 bcm. The shifting dynamics among member states’ shares provide insight into how the EU’s LNG import landscape is evolving.
France retained its position as the leading EU LNG importer, accounting for 18% (3.9 bcm) of the bloc’s total imports. However, this represents a three-percentage-point decrease compared to Q2 2024 and a two-point drop compared to Q3 2023. Despite the reduction, France maintained a slim lead over Spain, which also imported 18% (3.8 bcm).
Spain remained the second-largest importer, with its share stable at 18% year-on-year, but its imports dropped slightly from the previous quarter. The Netherlands, the third-largest LNG importer, saw its share decrease slightly to 17% in Q3 2024 from 18% in Q3 2023. This marginal decline corresponds to a total import volume of 3.6 bcm.
Italy ranked fourth, contributing 13% (2.9 bcm) of the EU’s LNG imports, an increase from its 12% share in Q3 2023. Meanwhile, Belgium held a steady share of 6% (1.3 bcm), reflecting minor fluctuations in its import levels year-on-year.
A closer look at the dynamics reveals notable changes in member state contributions between Q3 2023 and Q3 2024:
• France: A drop from 20% to 18%, reflecting a tightening import capacity or reduced demand.
• Spain: A slight decrease from 19% to 18%, indicating consistent but slightly reduced LNG activity.
• Netherlands: A one-point decline from 18% to 17%, showing minor adjustments in its LNG reliance.
• Italy: A gain from 12% to 13%, signaling an upward trend in LNG imports.
