Türkiye becomes Europe’s second-largest in regasification capacity: Report
Türkiye's first floating storage regasification unit (FSRU), Ertugrul Gazi, docked at the BOTAS Dortyol LNG Storage Facility off the coast of Hatay in southern Türkiye, on Feb. 2, 2022. (IHA Photo)
Türkiye has secured second place in Europe for regasification capacity, reaching 51.3 billion cubic meters (bcm) in 2024, following Spain, which leads with 67.1 bcm.
According to the Institute for Energy Economics and Financial Analysis (IEEFA), as of the end of 2024, Europe’s total regasification capacity was estimated at 334.5 bcm. To enhance energy security, the continent operates 39 liquefied natural gas (LNG) terminals, including floating storage and regasification units (FSRUs), with Türkiye accounting for 15.3% of the total capacity.
Among the highest-capacity LNG terminals in Europe, the U.K.’s Isle of Grain terminal ranks first with 19.5 bcm, followed by Spain’s Barcelona terminal with 17.1 bcm, and the Netherlands’ Gate terminal with 16 bcm.
Russian gas out, LNG imports in
Spain leads in LNG regasification facilities with seven operational terminals, followed by Türkiye and France with five each, and Germany and Italy with four each. The oldest regasification terminal in Europe, Italy’s Panigaglia LNG terminal, has been in operation since 1971 with a capacity of 3.5 bcm.
Since the onset of the Russia-Ukraine war in February 2022, Germany has recorded the largest increase in regasification capacity, expanding by 24.7 bcm. The Netherlands followed with an additional 9 bcm from new installations and a 4 bcm capacity expansion at an existing terminal.
During the same period, Italy, Türkiye, France, Belgium, Greece, Finland, Poland, and Croatia also commissioned new LNG facilities.
Despite new investments, IEEFA reports that nine LNG terminal projects in Europe have been either postponed or canceled. Nevertheless, Europe’s regasification capacity is projected to reach 373.3 bcm by the end of 2025, 392.8 bcm by 2026, and 401.4 bcm by 2027.
In 2022, EU countries spent over €110 billion ($10.46 billion) on LNG imports. This figure dropped to approximately €62 billion in 2023. While the exact LNG import expenditure for 2024 has yet to be disclosed, the European Commission reports that LNG’s share in total gas imports has risen to 37%, as Russian gas imports declined by 77%.
