The Rising Share of LNG in the European Market, a Gradual Shift from the Gaseous State to the Liquid State

Europe is still heavily relying on natural gas supplies via pipelines and keeps diversifying its supplies trying to free itself of Russian deliveries. This is a critical concern for Europeans since 2022 when the flow of gas through the Nord Stream pipelines was halted. Another promising project was in place to provide the same volumes, but as a result of the war in Ukraine, this project was not developed further.
Norway took the lead as the main supplier of natural gas to Europe in 2022. Especially through pipelines it exported 118bcm from a total of 124bcm in 2024. The supplies have been steady despite some maintenance activities in a few plants. It still plays its role as main supplier as it ensures about 30 % of the continent’s needs of natural gas.
By the end of last December, a contract between some European countries and Russia has been expired which was transporting roughly 15bcm of natural gas through pipeline via Ukraine. This reduces the share of pipelines supplying to Europe which will be balanced with LNG. In the short term there are no big volumes expected to come from north African countries including Algeria and Libya and other countries like Azerbaijan and Norway.