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Europe gas and LNG: 6 things to look for in 2023

Predictions for the year ahead

1 minute read

What’s in this year’s report?  

Europe enters 2023 with less market uncertainty than in 2022, following the Russian invasion of Ukraine. Russian imports now represent only 7% of the total Europe gas supply versus 27% in 2021, with limited downside risk beyond the disruption of flows through Ukraine transit. Continued weakness in demand and sustained LNG imports should help Europe to start next winter with healthy storage levels. 

But there are still risks that Europe could face. Security of supply and affordability will continue to be at the top of policy and corporate decisions. And companies will need to shape their portfolio of gas and LNG contracts and regas capacity. 

In this insight, we draw on Lens Gas & LNG to pick out and analyse six key trends that will shape the European markets in 2023. 

This includes:  

  • European governments’ intervention in markets 
  • Uncertainties will subdue new long-term LNG volumes contracts 
  • A reconnection trend for European gas price differentials 
  • And more.  

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