A speaker at a recent LNG industry summit curtly remarked “liquefied natural gas saved Europe” when commenting on the upheaval in demand patterns for the sector in 2022.

Hyperbole aside, the comment seemed to fit well what could be observed in global gas markets after Russian pipeline gas imports nosedived in 2022, and European importers turned to LNG to plug the gap and strengthen alternative supply routes.

Floating storage and regasification units have been the chosen option for ramping up LNG imports quickly and, if all goes to plan, an armada of these vessels will be deployed across Europe, with the goal of turbocharging LNG import capacity and securing supply.