US Ships 80 % of LNG Exports to Europe in February 2025
After experiencing a decline in sales to Europe during the latter half of 2024, US LNG is once again in high demand on the continent.
In February, 82 % of US LNG exports, amounting to 6,82 million tonnes, were sent to Europe, according to Reuters. This follows an even higher figure of 7,25 million tonnes, which represented 86 % of exports, in the previous month.
The increase in demand can be attributed to strong prices and ongoing cold temperatures. The US is solidifying its status as the world’s largest exporter of supercooled gas, just about a decade after making a significant entry into the market.
The first two months of 2025 may indicate a reversal of trends for European imports. In 2024, US deliveries to Europe dropped by 18 %, while Russian supplies surged by the same percentage, mainly from the Yamal LNG plant. Russia set a new record for Arctic deliveries, shipping nearly 22 million tonnes of LNG via its Northern Sea Route last year.
On the other hand, Chinese imports have reached a five-year low due to declining demand. In February, China’s imports were recorded at 4,5 million tonnes, according to data from Kpler. The last time China imported at such low levels was during the early days of the Covid pandemic.
The weak demand from China further complicates the efforts of Russian LNG company Novatek to find buyers for sanctioned cargoes from its Arctic LNG 2 plant. Eight shipments, collected between August and October 2024, remain at sea on LNG carriers and floating storage units, with no buyers yet in sight.
