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Spanish Energy Minister Calls to Move Away from Russian Gas

LNG

The Spanish energy minister has called upon the countries utilities to reduce LNG imports from Russia.

  • "It is desirable that traders seek to minimize imports of Russian gas and diversify the contracts they may hold," Teresa Ribera said at a news briefing earlier.
  • In May 2022, Russian LNG accounted for 11.9% of Spanish gas imports compared with 6.6% in the same month of 2021.
  • Spain is likely to prove a key LNG import hub for Europe as it seeks to move away from Russian piped flows. The country has heavily invested in LNG infrastructure in recent years, while other parts of Europe are now racing to catch up.
Energy BulletsCommodities
Energy BulletsCommodities

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