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LNG: EU Faces Supply Challenge from Russian LNG Ban: Axpo

LNG
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Europe’s gas supply situation will be extremely challenging, should there be a ban on Russian LNG imports given a tight global market, Axpo said, cited by Montel.

  • “It is not clear” how the EU could phase out Russian gas by 2027, Alvaro Baillo, deputy head natural gas and LNG Axpo Iberia said.
  • Eastern European nations “have clearly expressed their interest in keeping Russian gas supply”, while a total ban on LNG from the country would increase dependence on other producers, “mainly US, Qatar and Algeria,” he added.
  • Baillo highlighted the “West’s failure” in sanctioning Russian energy exports, which helped Russia’s economy to rebound.
  • He also stressed that Russian LNG remained very important for Europe, especially given a tight global market for gas.
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Europe’s gas supply situation will be extremely challenging, should there be a ban on Russian LNG imports given a tight global market, Axpo said, cited by Montel.

  • “It is not clear” how the EU could phase out Russian gas by 2027, Alvaro Baillo, deputy head natural gas and LNG Axpo Iberia said.
  • Eastern European nations “have clearly expressed their interest in keeping Russian gas supply”, while a total ban on LNG from the country would increase dependence on other producers, “mainly US, Qatar and Algeria,” he added.
  • Baillo highlighted the “West’s failure” in sanctioning Russian energy exports, which helped Russia’s economy to rebound.
  • He also stressed that Russian LNG remained very important for Europe, especially given a tight global market for gas.