Gas consumption in the EU in 2024 increased only slightly, by 2 billion cubic meters, reaching a total of 332 billion cubic meters. This is 7% less compared to 2022 and 20% less than in 2021.
This is reported by Finway
The volume of gas imports into the European Union in 2024 amounted to 273 billion cubic meters, which is a decrease of 6% compared to 2023 and 18% compared to 2022. Among suppliers, Norway accounted for 33% of imports, Russia for 19%, and the USA for 17%.
Increase in Liquefied Gas Imports
In 2024, the EU became the largest consumer of liquefied natural gas (LNG) in the world, holding 20% of the market. The total volume of LNG imports was 101 billion cubic meters, which is 16% less than in 2023 and 14% less than in 2022. The USA remained the largest supplier of LNG to the EU, with a share of 45%, followed by Russia (20%) and Qatar (12%).
Decrease in Pipeline Imports
The volume of pipeline gas imports into the EU in 2024 was 172 billion cubic meters, which is a decrease of 2% compared to 2023 and 21% compared to 2022. Norway provided 50% of imports, while Russia accounted for 18%. In March 2024, gas supplies from Russian Gazprom to Europe through the Turkish Stream fell by 19.4% compared to February, to 45 million cubic meters per day.