UK records 47% annual drop as governments aim to replace fossil fuels but also spend billions on new LNG terminals

European imports of seaborne gas shipments fell by a fifth last year to their lowest level since the pandemic, according to a new report, while the UK’s plunged by nearly a half, but governments are continuing to spend billions on new import terminals.

The Institute for Energy Economics and Financial Analysis (IEEFA) found that Europe’s imports of liquefied natural gas, known as LNG, fell by 19% last year to lows not seen since 2021 as governments worked to replace fossil fuels with renewable energy.