Europe's LNG Imports Expected to Hit Record High in February, Rushing to Replenish Low Inventories

According to forecasts from commodity data service provider Kpler, Europe's liquefied natural gas (LNG) imports in February are expected to reach 14.2 million tonnes, breaking the previous monthly import record. Currently, Europe's natural gas inventories are being depleted at an accelerated pace, and the European Union (EU) is fully advancing the work of replenishing natural gas reserves to ease the supply shortage.

Clyde Russell, an analyst at Reuters, pointed out in a report on the LNG market that this projected import volume is an increase from 13.67 million tonnes in January and a 22% year-on-year rise compared with February 2025, indicating strong European demand for LNG. 

In terms of import sources, the United States remains Europe's largest LNG supplier, accounting for an estimated 57% of Europe's total imports in the month, or about 8.05 million tonnes; in addition, Europe will continue to import LNG from Russia this month, with an expected total of 1.6 million tonnes, a slight decrease from 1.68 million tonnes in January.

It is reported that the expected record-high LNG imports in Europe are closely related to the current decline in LNG prices in the international spot market, and the affordable prices have provided favorable conditions for Europe to increase its purchasing volume. 

According to Kpler data, China's LNG imports are expected to reach 3.38 million tonnes this month, an adjustment from 4.47 million tonnes in February 2025, and this change has had a certain impact on the supply pattern of the international spot LNG market.

Kpler further predicts that driven by the EU's urgent demand to replenish natural gas inventories, Europe's LNG imports from the United States will climb to 11.19 million tonnes in the next month. 

At present, the EU's natural gas inventories have dropped to 30%, significantly lower than the average level of 49% in the same period of previous years, and replenishing inventories has become the focus of Europe's energy work.

Notably, against the backdrop of record-high U.S. LNG exports to Europe, U.S. Energy Secretary Chris Wright has called on the EU to abolish relevant regulations on methane emissions, stating that such regulations will increase the operating costs of LNG exporters. 

In December last year, Wright made a request, hoping that the EU would exempt U.S. energy exporters from complying with its methane emission regulations before 2035. The requirements for emission tracking, reporting and verification in the regulations will take effect in 2027. 

In addition, Wright also warned that two other EU directives focusing on sustainability may have a negative impact on its energy imports from the United States.

Industry insiders said that Europe's increased LNG imports this time are mainly to cope with the pressure of low inventories and ensure stable energy supply. 

In the future, with the advancement of the EU's inventory replenishment progress and changes in the supply and demand pattern of the international LNG market, Europe's import rhythm may adjust, and the differences between the United States and Europe on energy regulation may also have an impact on the energy trade cooperation between the two sides.