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Total Russian Gas Halt to Have Minor EU Price Impact: Montel

NATURAL GAS

A phase out of the remaining Russian gas supply to Europe would not lead to a significant increase in EU gas prices, according to Global Risk Management cited by Montel.

  • Around 15% of the EU’s gas still comes from Russia, composed of one third LNG, one third via Ukraine, and the rest via Turkstream.
  • “It [Loss of Russian gas] creates a tighter situation next winter, especially if we get a cold [spell], that’s for sure. But I think the EU is ready for it now because it is in a much better situation [than a year ago],” chief analyst Arne Lohmann Rasmussen at Global Risk Management said.
  • The EU wants to be completely independent of all Russian gas by 2027 following its invasion of Ukraine.

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