Russian Gas Exports to Europe See 20% Increase Amid Ongoing Challenges

According to Deputy Prime Minister Alexander Novak, Russian gas exports to European countries have increased by 18-20% this year compared to 2023. From January to November, over 50 billion cubic meters of pipeline gas and liquefied natural gas (LNG) have been supplied. Novak highlighted the demand for Russian gas due to its cost-efficiency and ecological benefits, despite sanctions and political tensions.

In 2023, Russian pipeline gas exports to Europe dropped by 55.6% to 28.3 billion cubic meters, but are expected to recover to around 32 billion cubic meters this year. However, challenges lie ahead for Russian gas exports to Europe, particularly with the expiration of a gas transit deal between Moscow and Kyiv. Novak emphasized the importance of reaching an agreement between Ukraine and Europe on the Russian gas transit issue.

While Europe has been increasing its imports of Russian LNG, the EU aims to reduce its dependence on Russian gas by 2027 through imports from other countries like Norway, the United States, and Qatar. Russia’s LNG exports are projected to reach around 33 million tons in 2024, similar to the previous year. Despite these developments, the situation surrounding Russian gas exports to Europe remains uncertain.

Source