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EU Needs Greater Infrastructure to Cut Russia Gas Reliance

NATGAS

Europe needs to develop more infrastructure if it is to replace Russian gas as comprehensively as it has done for crude oil, gas executives said a CERAWeek, cited by Reuters.

  • The EC has called for nations to end its reliance on Russian fossil fuels by 2027.
  • "Redirecting liquefied natural gas and building regas terminals are not long-term solutions, Exxon Mobil VP John Ardill said at CERAWeek."
  • "The infrastructure has not been there and is still not there. At this stage, Europe really could not cut off [Russia] LNG," Gunvor CEO Torbjörn Törnqvist also said, cited by Reuters.
  • Europe’s gas imports from Russia are down by around two thirds since the invasion of Ukraine.
  • A further 40 bcm of Russian flows via Ukraine are at risk of being cut off in January as the current deal between Kyiv and Gazprom is set to expire.
Energy BulletsCommoditiesCEEMEA
Energy BulletsCommoditiesCEEMEA

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