Financial Times : Europe imports record volumes of Russian liquefied gas

Europe imports record amounts of Russian liquefied natural gas from January to October 2022, and the import of liquefied natural gas from Russia this year has increased by 42 percent compared to the same period in 2021, writes Financial Times.

In the first ten months of this year, a record 17,8 billion cubic meters of liquefied gas were delivered to Russia. As the reputable magazine states, the main buyers of Russian gas are Belgium, Spain, the Netherlands and France. Of the total imported liquid fuel, 16 percent of the gas arrived in European countries by sea, the British newspaper estimates.

At the same time, 62,1 billion cubic meters of Russian gas were delivered to Europe through pipelines since the beginning of the year. These data show that Europe is not yet completely ready to give up gas from Russia, the author of the article assesses.

Anne-Sophie Corbo, an expert at the Center for Global Energy Policy at Columbia University in New York, believes that one day Russia could stop supplying gas to Europe. In that case, according to Corbo, Europeans would be forced to buy gas on the "even more expensive free market".

Corbo believes Russia could deploy its LNG tankers to countries such as Bangladesh and Pakistan and sell the gas at lower prices to gain "political advantage" and "put pressure on the Europeans," the magazine said.

The British newspaper reminds that in 2021, Europe imported a total of 155 billion cubic meters of Russian natural gas, including liquid natural gas.

On the other hand, expert Georg Zakman believes that the European Union should not give up Russian liquid natural gas, but that it should develop a protection mechanism in case "Russia starts selectively sending gas to individual customers in Europe in order to gain political points and to undermine European unity"

 

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