OREANDA-NEWS By the end of March 2024, the supply of liquefied natural gas (LNG) to the European energy market decreased by 20 percent compared to the same period in 2023 and fell to the lowest since September. This is reported by Bloomberg with reference to statistical data from Kpler analysts.

According to experts' expectations, such dynamics will continue in the region in the medium term. A number of factors will contribute to this, including increased demand from Asian countries, as well as record fuel reserves in underground gas storage facilities (UGS) of the European Union.

Against this background, LNG supplies to the countries of the Asia-Pacific region (APR) increased by 12 percent year-on-year in March and reached the level of 24 million tons. The leaders in terms of import growth were China (plus 22 percent), India (almost plus 30 percent) and Thailand (plus 8 percent), analysts summarized.

Earlier, the RBC publication, citing data from the European Association of Gas Infrastructure Operators (GIE), reported that European countries can complete the 2023-2024 heating season with record gas reserves. By March 25, the occupancy rate of local UGS was at the level of 59.18 percent. Experts predict that, if the current pace of selection is maintained, it could reach a record 58 percent by the end of this month.