Europe Poised to Import More LNG Than Ever This year, IEA Says

Europe will import record volumes of liquefied natural gas this year, deepening its reliance on the volatile global market, according to the International Energy Agency.

The region is expected to buy more than 185 billion cubic meters of LNG, the agency said in a report Friday. Even as overall demand for the fuel is set to drop amid the continued expansion of renewables, Europe will need more to replenish rapidly depleting inventories and sustain exports to war-torn Ukraine.