Oil & Gas

During the first quarter of this year, three Arab countries were among the largest exporters of liquefied gas to Europe, with the United States alone accounting for more than 50% of the total supplies received by the European market. According to recent data from the Washington-based Energy Research Unit, Europe's LNG imports decreased by 12.6 percent to 30.42 million tonnes in the first quarter of 2024 compared to the same period in 2023.

The United States led the list of the largest exporters of liquefied natural gas to Europe, with exports increasing by 2.6% year-on-year to 15.35 million tons, representing 50.5% of the continent's total imports during the first quarter of 2024. Russia followed in second place, with exports rising by 4% year-on-year to 5.06 million tonnes, equivalent to 16.6% of Europe's total LNG imports.

Algeria ranked third in the list of largest exporters of liquefied natural gas to Europe during the first quarter of 2024, followed by Qatar in fourth place, and Egypt in eighth. Algerian LNG exports to Europe rose by 12% to 3.01 million tonnes, representing 9.9% of the continent's total imports during the first quarter of this year. Qatar's LNG exports to European countries fell by 32% year-on-year to 2.39 million tonnes, making it the fourth largest exporter of liquefied gas to Europe, accounting for 7.8% of the continent's total imports.