US, Qatar, Egypt Supply Europe’s LNG Demand

The natural gas liquefaction complex in Damietta, which exports the largest amount of Egyptian gas exports (Asharq Al-Awsat)
The natural gas liquefaction complex in Damietta, which exports the largest amount of Egyptian gas exports (Asharq Al-Awsat)
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US, Qatar, Egypt Supply Europe’s LNG Demand

The natural gas liquefaction complex in Damietta, which exports the largest amount of Egyptian gas exports (Asharq Al-Awsat)
The natural gas liquefaction complex in Damietta, which exports the largest amount of Egyptian gas exports (Asharq Al-Awsat)

European imports of liquefied natural gas (LNG) rose by 63 % in 2022, to compensate for the interruption of supplies through Russian gas pipelines.

LNG imported by Europe increased by 66 bcm, according to a recent report by the International Energy Agency (IEA).

While the US supplied approximately two-thirds (43 bcm) of the incremental LNG inflows into Europe, other “swing suppliers” were also able to redirect significant flexible volumes to the European market, with Qatar (5 bcm), Egypt (5 bcm), Norway (3 bcm), Angola (2 bcm), Russia (2 bcm) and Trinidad and Tobago (2 bcm) providing the bulk of the remaining one-third.

The increase in European demand raised prices and doubled the value of the global LNG market in 2022 to an all-time high of USD 450 billion. Traded volumes, however, increased by 6%.

The agency expects the growth of the global market in 2023 to increase by an additional 4.3 %.

“Europe was the primary driver behind the increase in LNG demand as it pivoted away from the Russian pipeline. LNG cargoes delivered to Europe increased by 63% last year,” said the IEA.

At one point in Q4, infrastructure bottlenecks combined with mild winter temperatures and full storage sites (reflected in wide price differentials) prompted more than “30 laden LNG tankers to wait for available regasification slots in Europe rather than sell their cargoes elsewhere at a discount,” according to the report.

Moreover, the war in Ukraine increased the need for LNG terminals and tankers.

LNG carrier orders reached an all-time high of 165 in 2022, according to data from Refinitiv, which represents a staggering 130% increase in 2021. This has boosted the presence of Chinese players in the LNG shipbuilding market.

Natural gas markets worldwide continued to tighten last year despite global consumption declining by an estimated 1.6% in 2022.

Meanwhile, EU energy ministers met on Tuesday to discuss issues ranging from security of supply to the upcoming electricity market reform. They touched on the renewal of the mechanism for reducing gas consumption during the coming winter.

French Energy Minister Agnes Pannier-Runache revealed that the 27 ministers discussed “extending several emergency measures” so gas stocks could be swiftly replenished and enable the countries to face potential tensions, including putting consumption under control.

In the face of the energy crisis that resulted from the war in Ukraine and the decline in Russian supplies, EU countries agreed last July to reduce their demand for gas during the period between August 2022 and March 2023 by 15 %.



Nissan Reportedly Considers Transferring Some Domestic Production to US

FILE PHOTO: The American flag flutters at a Nissan automobile dealership in Irvine, California, US, March 27, 2025.  REUTERS/Mike Blake/File Photo
FILE PHOTO: The American flag flutters at a Nissan automobile dealership in Irvine, California, US, March 27, 2025. REUTERS/Mike Blake/File Photo
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Nissan Reportedly Considers Transferring Some Domestic Production to US

FILE PHOTO: The American flag flutters at a Nissan automobile dealership in Irvine, California, US, March 27, 2025.  REUTERS/Mike Blake/File Photo
FILE PHOTO: The American flag flutters at a Nissan automobile dealership in Irvine, California, US, March 27, 2025. REUTERS/Mike Blake/File Photo

Nissan Motor is considering shifting some domestic production of US-bound vehicles to the US, the Nikkei reported on Saturday, as President Donald Trump ramps up trade tariffs on nations worldwide.
As early as this summer, Nissan plans to reduce production at its Fukuoka factory in western Japan and shift some manufacturing of its Rogue SUV to the United States to mitigate the impact of Trump's tariffs, the business newspaper said, without citing the source of its information.
The Japanese automaker's Rogue SUV, a key model in the US market, is now produced in Fukuoka and the United States, the report said, according to Reuters.
On Thursday, Nissan said it would not take new orders from the US for two Mexican-built Infiniti SUVs after earlier Trump tariff announcements, marking, a drastic scale-back of its operations at a joint venture plant.
The automaker now plans to maintain two shifts of production of the Rogue at its Smyrna, Tennessee, plant after announcing in January it would end one of the two shifts this month.
Nissan sold about 920,000 vehicles in the US last year, of which about 16% were exported from Japan, the Nikkei said, adding the planned production shift could hit local suppliers' businesses.