Global independent commodity intelligence service ICIS has launched a new pricing service for LNG in Germany – amid monitoring ever-changing market dynamics.
Germany has historically been the most significant European buyer of Russian gas and for many years relied heavily on the nation for over half its supply. However, following the Ukraine war and introduction of Russian sanctions, its share has collapsed, and Germany now has a stated target to step away entirely from Russian gas in 2024.
Last year, the German government identified LNG as a critical supply source to replace Russian gas and Berlin has financially supported an accelerated programme for up to 10 LNG import terminals to be developed.
Three LNG terminals have already started operations in the first weeks of 2023, connecting Germany more directly than ever to the global LNG market and creating an even greater need for trusted energy intelligence and price transparency.
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