ICIS: LNG supplies from Russia to the EU rose to record levels
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Before the imposition of an embargo on oil from Russia, the European Union (EU) increased imports of Russian liquefied natural gas (LNG). This is reported Handelsblatt with reference to data from the research company ICIS. According to the publication, compared with the previous year, the EU and the UK purchased almost 21% more Russian LNG.
ICIS gas expert Andreas Schroeder told Handelsblatt that 13% of European LNG imports currently come from Russia. “And this volume is growing rapidly,” added Mr. Schroeder.
The expert noted that Germany does not have its own operating LNG terminal, so it continues to purchase liquefied natural gas from neighboring countries such as France, Belgium and the Netherlands. According to Mr. Schroeder, part of the LNG from Russia will also have to be sent to Germany.
As the publication clarifies, the EU countries and the UK are forced to purchase Russian LNG at a rather high price. So, from January to November, Moscow could receive about € 27 billion for fuel. At the same time, conventional gas flows from Russia almost completely stopped within a few months, the publication adds.
According to the materials of the article, from January to November 2021, European countries imported 133 billion cubic meters through pipelines. m of gas. Over the ten months of last year, Russian LNG imports amounted to just over 15 billion cubic meters. m, and for the same period in 2022, countries imported just under 18 billion cubic meters. m of gas.
The embargo on oil supplies by sea from the Russian Federation to the (EU) came into force yesterday, December 5. A ceiling on energy prices has also been introduced by the EU countries, the G7 and Australia: it is set at $60 per barrel. Raw materials more expensive than the established price level are prohibited from being insured and transported. According to Western leaders, the restriction should prevent Russia from earning money to finance the military operation. In the Kremlin declared on the preparation of response restrictions.
About why the demand for Russian LNG is growing – in the material “Kommersant FM” “Europe bought for the future”.
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