Total investment in LNG peaking energy storage projects in Western Europe

How has new LNG import infrastructure impacted European gas prices?

Since 2022, over 50 bcm of new LNG import infrastructure eased supply congestion and helped narrow the price gap between European gas hubs and LNG spot prices. EU is the top global LNG import market. In 2023, EU Member States imported 134 bcm of LNG, making up 42% of total EU gas imports.

Are European LNG regasification projects overinvesting & underutilizing?

European LNG regasification projects are set to increase the continent's LNG capacity by 121 million mt/year before the end of the decade, yet with waning European demand and utilization rates at operating terminals below 50%, questions arise to the potential overinvestment and underutilization of the market.

How much money does the EU spend on gas & LNG?

Of this, €117.4 billion came from the US, €37.5 billion from Russia and €34.4 billion from Qatar. From the beginning of 2022 to June 2025, EU countries spent about €120 billion on pipeline gas and LNG imports from Russia. The average prices EU Member States paid for LNG in H1 2025 were similar to those in 2021.

What's going on with Northwest European LNG prices in 2022?

Platts, part of Commodity Insights, assessed the Northwest European LNG marker at a record spread of $29.55/MMBtu versus the Dutch TTF gas hub price on Oct. 3, 2022. Since then, prices have cooled as Europe ramped up regasification capacity.