MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Russian Piped Gas to EU Expected to Fall 45% in 2022: IEA

NATURAL GAS

Russia is expected to meet 25% of the EU’s gas demand this year according to the IEA today in its quarterly gas market report, the lowest in two decades.

  • The IEA said that EU imports of Russian pipeline gas were set to decline by over 45% this year to below 80 Bcm, assuming current flow patterns remain unchanged.
  • Over the medium term, the IEA said Russian gas was set to cover 20% of EU gas demand by 2025, with a total halt in Russian imports possible by 2027.
  • In order to offset the lost Russian flows, the EU has pledged to increase LNG imports significantly.
  • The IEA also warned that global gas markets could remain tight for a prolonged period of time as LNG production capacity additions slow over the next three years. "This raises the risk of prolonged tight market conditions. While there has been a recent surge in LNG investment decisions, the resulting infrastructure will not be operational until after 2025," the IEA said.
  • "A complete cut of Russian gas flows cannot be excluded," the IEA said, a move that would through Europe into energy turmoil.
Energy BulletsCommodities
Energy BulletsCommodities

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.