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HomeLNGCan CEE become Europe's LNG hub?

Can CEE become Europe’s LNG hub?

Thanks to increased capacities and higher utilisation rates, as of November 2022, the LNG Large Scale terminals of the EU27 passed 1,000 terawatt-hours (TWh) of regasified gas, a 75 per cent increase compared to the same period last year, according to data from Gas Infrastructure Europe (GIE). It is clear how LNG has risen in importance and is helping Europe ensure its energy supplies, at a time when Russian gas has been dramatically reduced and record-high prices have put a strain on businesses and consumers all over the world. GIE expects the LNG terminals in the EU to expand to over 3,000 TWh of capacity by 2030, further enabling the transition from coal to gas.

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“Building LNG terminals allows for massive energy imports,” said Arno Büx, Chief Commercial Officer of Fluxys and President of Gas LNG Europe (GLE). “This energy is critical to the security of supply today and will be renewable tomorrow. […] Investing in LNG terminals is a good opportunity to nurture the future renewables network in a fast and efficient way while fostering the diversification of the routes and the sources of supply today.”

However, supply alone will not be enough and the infrastructure must be further developed. But how all of this will impact Central and Eastern Europe?

We are talking about a region with limited access to seaports, thus restricting the possibility of building LNG terminals or Floating Storage Regasification Units (FSRUs). Furthermore, the interconnections are not well developed everywhere and when Russian gas supplies were halted and/or reduced, it was evident how some countries must work on their energy networks more than others.

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To read the full version of the article, download our second e-book about the evolving and expanding LNG market of Central and Eastern Europe.

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