It looks like May ended up just above the level seen last year, which had been the lowest since at least 2019 (when my data start).
This is after April 2025 had already been 5% lower than last year, recording the lowest level for April in recent history.
This is a significant reversal from the last winter, which had seen demand almost 10% higher than the previous year.
The result: the last two months have lowered Europe’s projected LNG demand for 2025 by almost 6 Bcm, compared to a scenario in which demand followed a similar trend as the 24/25 winter.
Source: Giovanni Bettinelli
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