Daily Energy Report
EU gas imports, China oil inventory, Global power demand, Gas pricey for emerging economies, More oil/gas/coal demand, Sanctions turmoil, Trump oil/gas rhetoric, UK defies energy reality, and more.
February 14, 2025
There will be no Daily Energy Report on Monday as the markets are closed in observance of President’s Day.
Chart of the Day
EOA: EU’s Natural Gas Imports by Source in January 2025
Summary
Figure (1) shows EU gas imports by source. About 58.6% came via pipeline, while 41.4% were LNG imports. Norway is the largest exporter of gas to the EU at 31.8%, followed by Russia at 18.9%, the US at 18.2%, and Qatar at 14.9%.
In January, EU LNG imports hit a record high of 8.40 million tons, driven by heating demand, power plant needs, and halted Russian gas shipments via Ukraine. The increase in TTF prices led to the diversion of cargos from Asia to Europe. France led EU members with imports of 2.86 bcm, followed by Spain (2.2 bcm) and Italy (1.52 bcm). The US supplied 54% of EU LNG, with Russia at 19%, Qatar at 8%, and Nigeria at 8%. LNG made up 48.8% of EU gas imports, with pipeline gas at 51.2%. Norway was the top gas supplier at 29.4%, followed by the US at 26.2%, Russia at 15.5%, and Algeria at 13.3% as shown in Figure (1).