The imported volume of Liquefied Natural Gas (LNG) into the UK stood at 26.45 Billion Cubic Meters in 2023. From 2024 onwards, the forecasted data indicates a year-on-year increase: 27.47 BCM in 2024, 28.53 BCM in 2025, 29.58 BCM in 2026, 30.63 BCM in 2027, and 31.67 BCM in 2028. This represents a steady growth trend with annual variations of:
- 2024: +3.85%
- 2025: +3.86%
- 2026: +3.69%
- 2027: +3.54%
- 2028: +3.39%
Over the last two years, LNG imports increased by approximately 6.75% from 2022 to 2023 and are projected to continue growing, albeit at a slightly decreasing rate, with a CAGR of 3.67% from 2024 to 2028.
Future trends to watch for include changes in global LNG supply dynamics, the impact of geopolitical events on energy imports, advancements in renewable energy technologies, and any regulatory changes that may affect the UK’s energy import strategy.