Permanent Representation of Lithuania to the EU’s Post

In the short term, Europe is expected to maintain its reliance on Russian LNG, with the proportion of imports from Russia seeing an increase compared to previous years. Despite efforts to diversify energy sources, European countries continue to turn to Russian LNG to meet their supply demands. This reliance underscores the importance of securing stable energy sources in the region. However, looking ahead, there are indications that US LNG supplies could gradually replace Russian imports over the long term, according to industry sources #Europe #Russia #LNG #EnergySecurity

Since the start of the war in Ukraine, Spain imported 84% more Russian LNG, becoming the top buyer of Russian LNG so far in 2023. Spain is also top spender on all things Russian energy, with $1 billion spent on combined oil and gas. #russiaisaterroriststate #russiaukrainewar #russia #russianwarcrimes #spain #espana #oilandgasindustry

Energy Alert! Russia has become Europe's largest natural gas supplier, surpassing the US for the first time since 2022. Despite EU efforts to reduce reliance on Russian energy, sanctions, and attempts to ban Russian LNG, imports have reached record levels. With Ukraine ending its transit deal with Gazprom, the EU is urgently negotiating to maintain gas flow. How will this impact Europe’s energy landscape? Explore the full analysis at https://lnkd.in/dpcWZcZU #Energy #NaturalGas #Europe #Russia #GlobalEconomy #TheDabar

The Russia-Ukraine gas transit agreement ending in 2024 will disrupt gas supplies to European countries like Slovakia, Austria, and Moldova. To replace Russian gas, the EU must increase LNG imports and use alternative pipelines like the Trans-Balkan pipeline and the Balkan Stream.

Austria confident it can manage with gas from Russia.... Austria’s energy ministry asserts that it can manage without Russian gas, thanks to high storage levels and strong import links with Germany and Italy. The EU’s goal to phase out Russian fossil fuels by 2027, spurred by the Ukraine conflict, has been met with challenges as many Central European nations remain strongly reliant on pipeline flows from Russia. Austria, while once reducing Russian gas reliance to 21% in 2022, saw this rise to 83% by mid-2023. Austria’s gas storage is over 90% full, with nearly half available for national use. With import capacity exceeding its demand, Austria could secure gas supplies even with a potential Russian disruption. However, increased gas flows to Austria from Germany and Italy are likely to have come into those nations via LNG and support the European market, particularly against the backdrop of rising LNG prices in Asia as demand rises in key importing nations like Japan.  #2buy2 #energy #procurement

https://lnkd.in/d7JM8fna "Reducing dependence on Russian fossil fuels is a tangible reality. Imports of pipeline gas coming from Russia have drastically diminished, while volumes of LNG imports from reliable partners like the United States and Norway are on the increase. The share of Russia’s pipeline gas in EU imports dropped from over 40% in 2021 to about 8% in 2023. For pipeline gas and LNG combined, Russia accounted for less than 15% of total EU gas imports. The drop was possible mainly thanks to a sharp increase in LNG import and an overall reduction of gas consumption in the EU."

Russia’s Exports of Natural Gas to China Now in Question After Ukraine was attacked by Russia in February 2022, Russia had to find new markets for its natural gas exports that were cut to the EU.  Russia turned to China. Forbes reports China is taking a very aggressive stance on Russia’s new Power of Siberia 2 natural gas pipeline project, which would export 1.77 trillion cubic feet of natural gas annually to China.  China now only wants to pay Russia’s heavily subsidized domestic price and is unwilling to commit to buy substantial quantities of natural gas annually.  This puts Russia’s natural gas exports further at risk after Gazprom lost $6.9 billion in 2023, its first reported loss in 20 years. Since 2022, the U.S. has led as the world’s largest producer and exporter of natural gas. American First Energy LLC explores along the Gulf Coasts of Texas and Louisiana where a large portion of the U.S.’s undiscovered natural gas resources are located and where a highly developed network of pipelines already exists. www.americanfirst.energy #naturalgas #stage #export #oilandgas #LNG

Türkiye invites Turkmenistan to its gas hub The Turkish newspaper Sabah reports that on January 29, bilateral negotiations were held in Ankara on the transportation of Turkmen gas to Europe. The negotiations were attended by delegations of the state companies #Turkmengaz and #Turkmenpetrol, the ambassador of this country in Ankara Mekan Ishanguliyev, as well as a delegation led by Deputy General Director of #BOTAŞ Mithat Aydin. It is reported that the negotiations took place within the framework of the “Protocol of Mutual Understanding on Expanding Cooperation in the Energy Sector”, signed during the First Summit of the Presidents of Türkiye, Turkmenistan and Azerbaijan in December 2022. It should be noted that the first Turkish-Turkmen intergovernmental agreement on the import of #Turkmen_gas was signed in 1996. Then Turkey wanted to annually import 10 bcm of Turkmen gas through the Caspian Sea and sell another 20 bcm on European markets. Even then, Turkey did not want to become a transit country for Turkmen gas: it wanted to buy Turkmen gas and resell it in Europe. That is, official Ankara hopes to implement the gas hub project. There is no direct route for gas from Turkmenistan to come to Türkiye. Turkmenistan has connections to Russia via Kazakhstan and directly to Iran's gas network. The pipeline project that would connect Turkmenistan to Azerbaijan, and thus to Türkiye and Europe, via the Caspian Sea was evaluated in the past.

The EU is ready to end Russian gas transit through Ukraine and condemns Hungary for its agreements with Gazprom, said European Commissioner for Energy Kadri Simson after a meeting of energy ministers in Luxembourg. "We knew this contract would expire before the end of the year. The EC is working closely with the most affected member states to prepare for a zero-transit scenario. Central and Southeastern Europe already have diversified supply options to fully replace these 14 billion cubic meters of Russian gas, and LNG terminals have enough capacity. There is a transport infrastructure, and there are various supply routes for both LNG and pipeline imports," Simson said. She emphasized that the EU can refuse Russian gas and called it a "political choice." "If the member states want to sign new agreements, it is a political choice and dangerous. After all, the value of relations with Russia is measured not only by the gas price but also by the lives lost in Ukraine," she emphasized, alluding to Hungary, which signed with Gazprom a "memorandum on increasing gas supply." https://lnkd.in/dGer8NJx

19 Oct 07:45: UBN: ‘The EU 🇪🇺👏🏻👏🏻 is ready (Me: ‘ … but will they now act on it … and fast … ?‘) to end Russian 👺 gas transit through Ukraine 🇺🇦 and condemns Hungary 👺🇭🇺👺 for its agreements with Gazprom, said European Commissioner for Energy Kadri Simson after a meeting of energy ministers in Luxembourg 🇱🇺. “We knew this contract would expire before the end of the year. The EC 🇪🇺 is working closely with the most affected member states to prepare for a zero-transit scenario. Central and Southeastern Europe already have diversified supply options to fully replace these 14 billion cubic meters of Russian 👺 gas, and LNG terminals have enough capacity. There is a transport infrastructure, and there are various supply routes for both LNG and pipeline imports," Simson said. She emphasised that the EU 🇪🇺 can refuse Russian 👺 gas and called it a "political choice." “If the member states want to sign new agreements, it is a political choice and dangerous. After all, the value of relations with Russia 👺 is measured not only by the gas price but also by the lives lost in Ukraine," she emphasised, alluding to Hungary 👺🇭🇺👺, which signed with Gazprom a "memorandum on increasing gas supply." https://lnkd.in/dGer8NJx’: Thank you, Nikki Searancke 🇳🇿🇺🇦: