Free Trial

EU Proactive Measures Ahead of Russian Gas Transit Halt in Dec 2024

NATURAL GAS

The EU is taking proactive measures ahead of the expected halt to Russian gas transit through Ukraine at the end of 2024 according to EU Commissioner for Energy Kadri Simson.

  • She urged reductions in consumption volumes and market changes from member countries still dependent on Russian gas.
  • The EC is keeping Russian LNG imports “under close review.” EU is expected to import around 20bcm of Russian LNG in 2023 and roughly unchanged from 2022. An additional 20bcm of Russian pipeline gas is expected during 2023 compared to a total of 80bcm of Russia gas and LNG imported last year.
  • “While the current market situation is somewhat healthier, new geopolitical circumstances bring numerous risks, so we must continue to be prepared for crises and extend the preventive measures presented last year,” Simson said. The measures include solidarity among member countries, renewable resource development, and the market correction mechanism.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.