The expert predicted the loss of a third of Europe's LNG imports from Russia
Europe will lose almost a third of Russian imports of liquefied natural gas (LNG) after the ban on its supply under short-term contracts came into force on Saturday, April 25. This was announced by Ivan Timonin, Senior manager of the Implementation consulting company.
In January, the Council of the European Union (EU) approved a regulation on phasing out imports of Russian LNG and pipeline gas. The new restrictions apply to short-term LNG contracts, while the ban on long-term supplies of this type of fuel will enter into force on January 1, 2027.
"The structure of Russian LNG supplies to Europe is characterized by the predominance of long-term contracts, which account for about 70% of volumes. Accordingly, the share of short-term and spot contracts is estimated at about 30%. It is this part of the supply that is subject to the restrictions imposed," the expert said in an interview with RIA Novosti.
It is specified that by the end of 2025, Russia accounted for 13% of the total LNG imports of the EU countries.
"At the moment, Russian gas retains a significant presence on the European market, despite a consistent policy of reducing dependence," Timonin said.
On April 24, Bloomberg announced that the EU had chosen the wrong time to ban LNG imports from Russia. According to him, excluding the possibility of a return to Russian supplies for political reasons, Brussels urges Europeans to prioritize replenishing the tanks emptied over the winter.
On April 13, Claudio Descalzi, CEO of the Italian oil and gas company Eni, called on the EU to reconsider its plans to gradually ban Russian gas imports from the beginning of 2027. According to him, it is unclear how and with what the EU will be able to replace 20 billion cubic meters of Russian gas, which "provides vital flexibility for the operation of power plants in the country."
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