The European Union replaced russian gas with American gas
13.11.2022 - 14:35
The European Union replaced most of russian gas with imports of American LNG.
“The EU gas market has successfully replaced a significant part of russian gas at the expense of LNG imports,” says the autumn economic forecast of the European Commission.
It also says that pipeline gas supplies from russia have fallen significantly and will now account for around 7% of all EU imports in October 2022, down from around 40% in previous years.
The forecast notes that, while volumes via other pipeline routes have remained fairly stable compared to the same period last year, high gas prices in the European Union have made it an attractive market for LNG exporters. At the same time, the USA acts as the main supplier of LNG to Europe.
