Economist Andrianov: Europe is increasing purchases of Russian LNG

While Norway supplies gas to Europe through underwater gas pipelines, Russia and the United States supply it in the form of liquefied natural gas. ” While Europe has practically stopped receiving gas through underwater gas pipelines from Russia, it is simultaneously increasing purchases of Russian gas, but in liquefied form. In some months, Russian LNG even exceeds the supply of liquefied natural gas from the United States in terms of its volumes, the economist says. At the same time, there is certainly a shortage of gas in Europe, primarily due to the cold months this year, as well as poor performance in renewable energy. Europe is looking for additional sources of supply, but such a source can only be the same liquefied natural gas. And it is not as reliable as the supply of blue fuel through pipelines. The LNG market is highly competitive, it works not on the basis of long-term agreements, but on the basis of market conditions, explains Andrianov. “Gas locomotives can change their destination already in the open ocean, that is, they can go to a market where they are offered a higher price. Thus, Europe is forced to compete on prices with other regions, he said. The advantages of pipeline supplies are indisputable: supplies are carried out on the basis of long-term contracts, so there are guarantees that they will be received at the right time. However, now there is only one branch through which Russian pipeline gas supplies to Europe are possible. This is one of the lines of the Turkish Stream, through which gas enters Turkey and then via the Balkan Stream is supplied to a number of southern European countries. First of all, Bulgaria and Hungary, says Andrianov. From there, it is theoretically possible to deliver via the existing pipeline system to other countries. But, of course, this cannot in any way cover the needs of Europe, since the capacity of this branch is only 15 billion cubic meters per year. At the same time, until 2022, Russian gas supplies to Europe reached 140 billion cubic meters per year, the economist recalls. In addition, Kiev is trying to deprive the Europeans of even this last remaining thread – the infrastructure of the “Turkish stream” on the territory of Russia has already been attacked by the Ukrainian Armed Forces.

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