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French LNG imports spike as global supplier capacity grows

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LNG Industry,

According to Reuters, French LNG imports saw a significant increase in 2018, as the US, Russia and Australia all made greater quantities of LNG available on the global market.

It has been reported that France imported 117 TWh of LNG in 2018, a seven year high. In particular, the Montoir LNG terminal saw a 45% increase (13 TWh), and the Dunkirk terminal saw a 25% increase (2 TWh).

According to Thierry Trouve, director of GRTgaz, the increased quantities of LNG being supplied by new gasification facilities in the US and Australia, and by Russia’s Yamal LNG project, were responsible for the boost to French LNG imports.

He elaborated to Reuters, explaining that while this new capacity may not have come to France directly, i.e. in 2018 France did not import any cargoes from Australia, what it did mean was that suppliers, particularly in areas such as the Middle East, had more of an incentive to supply Europe with greater quantities of LNG, as the LNG price difference between Europe and Asia reduced.

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