Total investment in LNG peaking energy storage projects in Western Europe

4 FAQs about [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.

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.

How has LNG regasification impacted Europe?

Since February 2022, the LNG regasification capacity in the EU has expanded by 50 bcm to facilitate the surge in LNG imports. New regasification infrastructure has helped to alleviate congestion and contributed to reduce price spreads between European gas hubs and LNG spot prices. A massive expansion of global LNG export capacity is happening.

How much does Europe spend on LNG imports in 2022?

EU countries spent about €258 billion on LNG imports from the beginning of 2022 to June 2025. Of this, €117.4 billion came from the US and €37.5 billion from Russia. Europe’s gas consumption has increased this year because of cold weather and low renewable power generation.

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