Europe has left its energy system vulnerable by replacing Russian fuel with liquefied natural gas (LNG) supplies from the United States. This was reported by Bloomberg.
The publication emphasizes that the American side took over most of the gas supply to EU countries in a short time and ranked second after Norway in terms of volume.
Dependence on American LNG will only increase in the future, according to Ira Joseph, a senior fellow at Columbia University’s Center for Global Energy Policy. This will happen unless the EU returns to Russian gas supplies or the Qataris decide to engage in a price war for market share.
Before that, Russian Deputy Prime Minister Alexander Novak statedIt was stated that the Russian Federation is ready to supply gas to European countries and discuss the terms of related transactions with foreign partners.
January 27 Russian Minister of Energy Nikolay Shulginov statedThe suggestion is that the country’s authorities will probably find a solution to expand the transit of gas from Ukrainian territory to European countries. He pointed out that the difficult situation could be overcome, especially by involving “other mediators” in the process.
Previously European Commission announced about plans to phase out Russian gas by the end of the decade.