National gas imports from US skyrocket 1000%
National imports of natural liquified gas (LNG) from the United States shot up by 1000% in the first three months of the year.
At the same time, LNG imports from Russia were “residual’ when before the Russian invasion of Ukraine for the like-for-like period in 2021, it was the second largest supplier to Portugal.
With US president Joe Biden’s promise to increase gas supply to the European Union, the US has become the largest supplier to Portugal in terms of LNG, exceeding Nigeria and Russia.
This is according to Portugal’s national statistics institute (INE) which states: “There has been an increase in imports from the United States (+188.6%), mostly fuels and lubricants (liquified natural gas and petroleum oils)”.
This total amount of imports from the US hides the even greater increase in LNG imports (1000%).
It fact it went from €30.1 million in Q1 of 2021 to €333 million, an increase of 1000% (11 times greater).
This means that the weight of US imports of the total imports of LNG rose from 13.1% to 51.4%, the US now becoming the largest supplier of LNG to Portugal after Nigeria and Trinidade & Tobago.
Russia had represented 35.7% of Portugal’s LNG needs last year, now that figure is down to 6.1%.