Categories: Business

European LNG Imports Soar 63% In 2022: IEA


Wed, 2023-03-01 13:35

RIYADH: European imports of liquefied natural gas soared last year as nations sought to cover for drops in Russian pipeline supplies, a report from the International Energy Agency said Tuesday.

The jump in demand from European nations sent prices spiking higher, with global sales doubling in value to $450 billion even though volume rose only 5.5 percent, the IEA said in a quarterly report on the gas market.

It said it expects LNG volumes to rise by 4.3 percent in 2023.

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