LONDON - Europe’s two biggest suppliers of pipeline gas, Norway’s Equinor and Russia’s Gazprom, have lost market share for the first time in at least four years amid a tripling in liquefied natural gas imports into the region over the past 10 months.
Data compiled by Refinitiv showing changes in the market share of gas from Norway, Russia and LNG sources is the latest example of how LNG is transforming Europe’s gas market.The share of LNG in gas supplied to western and central Europe increased to 14% between October 2018 and August 2019 from 5% in the same period of 2017-18.
LNG from the United States into northwest Europe accounted for 2% of total gas supply into the region, contributing to the strong increase in LNG in Europe. In countries with LNG terminals, Russian flows have given some ground to LNG volumes, an LNG market source said.
Good news. Ending Europeans’ dependence on Russian energy supplies is a strategic win for the West.
oh that's a good one