Russia supplies more gas to the EU than the United States in Q2 2024

By Alexander Miller, consultant in energy markets – Eurasia Business News, September 1st, 2024. Article n°1203.

In the second quarter, Russian gas supplies accounted for about 17% of European gas imports.

Russia ranked second in terms of gas supplies to the EU in the second quarter of 2024, ahead of the United States, writes the German edition of Die Welt, citing data from the consulting company Bruegel.

In the second quarter, Russian gas accounted for about 17% of European imports. According to analysts, in the second quarter of this year, the United States sent 12.27 billion cubic meters of liquefied natural gas (LNG) by tankers to buyers in the EU. At the same time, Russia supplied about 12.73 billion cubic meters.

Three routes were used for deliveries. Through Ukrainian transit, which continues to function, 4.1 billion cubic meters arrived.

The last time Russia ranked second in the market after Norway was in the third quarter of 2022, after the outbreak of hostilities in Ukraine. It is noted that then Nord Stream still contributed to the volume of supplies. Now Russia is in second place for gas supplies “even without Nord Stream”, that was destroyed during a sabotage in September 2022.

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According to data from Gazprom and the European network of gas transmission system operators (GTS) – ENTSOG, the volume of pipeline exports of Russian gas to Europe (the European Union and Moldova) in March 2024 increased by 26% compared to March last year to 2.74 billion cubic meters.

The Handelsblatt newspaper, citing sources, wrote in July that the EU is considering the possibility of concluding a new contract with Gazprom in connection with the expiration of the fuel supply contract between the Russian energy holding and the Ukrainian concern Naftogaz on December 31, 2024.

At the same time, on August 27, President of Ukraine Volodymyr Zelensky announced that Ukraine does not intend to extend the agreement with Gazprom on the transit of Russian gas to the EU countries after 2024. Since August 6 of this year, the branch of the transit gas pipeline through the Sudzha GIS in the Kursk region has been in the combat zone.

Transit through Ukraine is one of the two remaining routes for Russian gas supplies to Europe through pipelines. The second is one of the two lines of the Turkish Stream gas pipeline, through the other line of the pipeline gas goes to the Turkish market.

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© Copyright 2024 – Eurasia Business News. Article No. 1203.