Europe’s daily LNG imports down to 20-month low

Europe's LNG imports fall to 20-month low in early July

Europe's daily imports of liquefied natural gas (LNG) fell to a 20-month low in early July 2026, despite a heatwave boosting electricity demand and the need to replenish depleted underground gas storage (UGS) facilities, according to TASS calculations based on data from Gas Infrastructure Europe (GIE).

Since the start of July, LNG flows from European terminals into the EU gas transmission system have fallen by 30% compared with the same period last year. On July 2, daily LNG imports dropped to their lowest level since November 2024, totaling just 261 million cubic meters, TASS reported.

The decline comes as Europe experiences extreme heat, which typically increases demand for electricity to power cooling systems and air conditioners. Natural gas is one of the primary sources of electricity generation, alongside nuclear, wind, and solar power, the report noted.

European UGS facilities are currently 49.47% full—14.98 percentage points below the five-year average for this date—compared with 59.4% a year earlier. They hold 54 billion cubic meters of gas, 11.1 billion cubic meters less than last year's reserves, according to TASS calculations.

The European Commission requests EU member states to ensure their UGS facilities are 90% full between October 1 and December 1 each year, with a 10% flexibility allowance in difficult filling conditions. To meet that standard, net injection into European storage by the start of the 2026-2027 autumn-winter period must reach at least 68 billion cubic meters, TASS said.

June imports hit ten-month low

In a separate report, TASS said Europe cut its LNG imports to a ten-month low in June amid fierce competition with Asia for available market volumes due to the Middle East crisis.

In June, LNG flows from European terminals into the EU gas transmission system totaled around 10.1 billion cubic meters—13% lower than in May and 18% lower than in June 2025, according to TASS calculations based on GIE data.

For the period from January to June 2026, LNG inflows from terminals into Europe's gas transmission system remained at a record level of roughly 72.7 billion cubic meters. However, the growth rate slowed significantly: the figure was only 1% higher than in the same period of 2025.

LNG remains leading gas source in H1

LNG supplies accounted for the largest share of Europe's gas sources in January-June, at 40.9%, according to data from the European Network of Transmission System Operators for Gas (ENTSOG) as of June 29. Supplies from the North Sea (primarily Norwegian gas) ranked second with a 33.8% share, followed by North African gas supplies in third place (8.9%), and withdrawals from underground gas storage facilities in fourth (8.2%).

This exceeds the volume of supplies from the East—Russian gas, gas supplies from Ukraine, and the withdrawal of own gas from Ukrainian underground storage facilities by European companies—which stood at 5.2%. Gas supplies from Azerbaijan accounted for 3%.

Perspectives

• TASS reporting: The Russian state news agency frames the import decline as a data-driven development, attributing it to competition with Asia and domestic demand dynamics, while highlighting the challenge of meeting EU storage targets.