Europa Posted on 2024-12-28 12:20:00

Russian gas exports to Europe increased by 20% - EU plans to cut Kremlin imports by 2027

From Kristi Ceta

Russian gas exports to Europe increased by 20% - EU plans to cut Kremlin imports

Total exports of Russian gas to European countries have been 18-20 percent higher this year than in 2023, Russian Deputy Prime Minister Alexander Novak said. In January to November, supplies of pipeline gas and liquefied natural gas (LNG) exceeded 50 billion cubic meters, Novak said.

"Despite all the statements and the pressure of sanctions, since gas is an ecological product, it is in demand. And Russian gas is cost-effective, both in terms of logistics and price," he underlined. The increase came from a very low base in 2023, when Russian pipeline gas supplies to Europe fell by 55.6 percent to 28.3 billion cubic meters, after Moscow's relations with the West deteriorated significantly due to the conflict in Ukraine.Supplies are expected to recover to about 32 billion cubic meters this year, according to Reuters calculations.

Russian gas exports to Europe face serious challenges. A five-year gas transit agreement between Moscow and Kiev for Russian exports to pass through Ukraine despite the war expires at the end of the year, and Ukraine has said it will not renew the deal.

About half of Russian gas in Europe flows through Ukrainian territory. The rest is supplied through the TurkStream gas pipeline on the Black Sea bed. Novak reiterated that Russia was ready to supply Europe with gas through several routes and that Ukraine and Europe should agree between themselves on gas transit.

"To date, the issue has not been resolved, although European countries are interested in it. But it depends mainly on the agreement between the European Union and Kiev on the possibility of such supplies," Novak emphasized.

However, Russia's seaborne supplies have been growing, with Europe receiving about half of these exports. The European Union has no immediate plans to stop buying gas, but has said it will try to quit by 2027 thanks to increased imports from Norway, the United States and Qatar.

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