russia remains one of the most important energy suppliers to Europe - Bloomberg
Kyiv • UNN
russia remains an important energy supplier to Europe, accounting for 15% of the EU's gas imports in 2023.
Although russia is losing ground in the European gas market, some countries still cannot refuse to buy Russian energy. As UNN reports, Bloomberg writes about this, noting that russia accounted for 15% of gas imports to the EU in 2023.
Details
According to the Bruegel think tank in Brussels, russian fossil fuel imports to the European Union amounted to about $1 billion a month as of the end of 2023, down from a peak of $16 billion a month in early 2022.
Since there is currently no pan-European ban on russian gas, although some countries, such as the UK, Germany, and the Baltic states, have decided to stop importing this fuel, natural gas accounted for most of the remaining imports. According to the European Commission, russia still accounted for 15% of the EU's total gas imports in 2023, behind Norway and the United States with 30% and 19% respectively, and ahead of North Africa with 14%.
Most of this gas comes through pipelines crossing Ukraine and Turkey. The largest buyers are Austria, Slovakia, and Hungary.
Large consumers, including Spain, France, Belgium, and the Netherlands, continue to import russian liquefied natural gas by tanker. Some of it ends up being mixed with other gas sources in the European pipeline network, meaning that it potentially goes to Germany, despite claims of rejection of russian gas.
Norway has already replaced russia as the largest supplier of pipeline gas on the continent. The United States has also become the largest supplier of liquefied natural gas to Europe.
Add
russia's European customers are bound by long-term contracts. In addition, the transition could be costly, as available supplies on the global gas market will remain limited over the next two years until a new wave of supplies from exporting countries such as the United States and Qatar emerges. Much of the gas available for import to Europe is being absorbed by countries that have closed their coal and nuclear power plants in recent years.
Recall
The European Commissioner for Energy said that the EU is ready for a winter without russian gas through Ukraine. Kadri Simson said that the EU is actively working to reduce its dependence on russia in the energy market.
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