Berlin (energate) - The European LNG terminals continue to be well utilised. In the current quarter, the exit rates remain at an average of 61 per cent, which is similar to the fourth quarter of 2022, wrote the consultancy Teams Consult in its current 'LNG Market Radar'. For the first time, Germany's first LNG terminal, Wilhelmshaven I, is making its presence felt in the data. According to the operator, one LNG ship is unloaded there every week (
energate reported). In Lubmin, too, the first natural gas is flowing from the special ship (FSRU) 'Neptune' into the German natural gas grid, while in Brunsbüttel the
commissioning is still delayed.
According to Team Consult, this means that the German capacities available so far are being utilised to 70 per cent. Despite these new possibilities, the average exit rate in the Northern Europe area fell by 4 per cent to 3,190 GWh per day compared to the previous quarter. To put this in perspective, the Belgian (68 %) and Dutch (67 %) terminals had similar utilisation rates as Germany. In Poland (87 %) and Lithuania (82 %) the infrastructure is used more frequently. In addition, France (76 %) and Great Britain (59 %) belong to the northern region. In Southern Europe, on the other hand, utilisation has increased by 5 per cent so far in the first three months of the year to a total of 1,540 GWh per day.
Ten per cent more LNG
In total, about 10 per cent more LNG is coming to Europe by tanker than a year ago. In the meantime, 4,730 GWh are unloaded daily (Q1/22: 4,290 GWh). Before the start of the war and the collapse of Russian pipeline deliveries, the rate of delivery was "always well below 4,000 GWh", the analysts classified in their report. In terms of costs, the experts refer to the analysis of the Shell Group (
energate reported). In 2022, Europe increased its LNG imports by 60 per cent from 105 to 167 billion cubic metres, the costs tripled to 190 billion US dollars.
Study criticises stranded investments in Germany
Meanwhile, criticism of the LNG expansion plans in Germany continues unabated. In a new analysis, the Cologne-based New Climate Institute questions the latest
calculations of the Federal Ministry of Economics . "The new and planned floating terminals are already sufficient to cover interim supply bottlenecks even in extreme situations with infrastructure failures," the authors sum up. The construction of the onshore terminals is not necessary "at any time". In their eyes, the Federal Ministry of Economics is deliberately calculating with too small capacities of individual FSRUs on the one hand and too high natural gas demand on the other. /mt
