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EU LNG market already open; supply expected to increase in 2022

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According to Russian Deputy Prime Minister Alexander Novak, the market for Russian liquefied natural gas (LNG) in the European Union is still open. He also said that during the first 11 months of 2022, LNG deliveries grew to 19.4 billion cubic meters.

“This market is open right now. For instance, this year we were able to dramatically expand LNG shipments to Europe; they increased to 19.4 billion cubic meters in the first eleven months of 2022, and we anticipate 21 billion cubic meters by the end of the year, “added Novak.

He claimed that because Europe still has a gas shortage, Russia is prepared to start supplying through the Yamal-Europe pipeline.

Following the establishment of a gas hub in Turkey, Russia engages in discussions for increased supply via this nation.

“Because there is still a gas shortage and we all have the ability to increase supplies, the European market is still important. For instance, the Yamal-Europe pipeline, which was halted for political reasons, is still inactive “explained Novak.

Now, the Ukrainian route only provides 42 million cubic meters of gas per day, or around one-third of the transit volume specified in the contract, while Russia currently sends gas through the TurkStream pipeline, which is currently operating at full capacity.

“The implementation of greater gas supply volume through Turkey following the establishment of a gas hub there is now under discussion. We actively collaborate with the nations that will be a part of this initiative as well as the consumers who need Russian gas “said he.

According to Novak, requests from European consumers for more gas supplies are constantly being received.

“We can state with confidence today that there is a market for our gas. Therefore, we still see Europe as a possible market for our goods. It is obvious that a massive campaign against us has been launched, which culminated in sabotage against the Nord Stream pipeline, “Added he.

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