Europe Draws More LNG as Hormuz Crisis Tightens Global Market
European imports of liquefied natural gas are rising ahead of the Northern Hemisphere winter, as disruptions to flows through the Strait of Hormuz threaten to intensify global competition for the fuel. Deliveries to the EU and UK are about 4% lower than a year ago on a 30-day moving average, but have increased since early August, when imports were 30% below last year's levels. Europe is projected to absorb about a quarter of global LNG supplies in September, up from less than 19% in July, according to Kpler.
Why it matters: The shift underscores how energy security concerns are driving competition for LNG supply between Europe and Asia.