Page 117 - bneIntelliNews monthly country report Russia May 2024
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9.1.1c Gas sector news
Russia to supply China with cheaper gas compared to European market at least through 2027. Russia is expected to export natural gas to China with prices as much as 28% below those for Russia's European clients at least until 2027, Bloomberg reported on April 23, citing the Russian Economy Ministry's outlook.
The EU has again started increasing its import of Russian gas, including
pipeline gas and liquefied gas (LNG), writes Reuters. Due to the increase in LNG imports from the Russian Federation, the share of Russian gas in European imports increased from 8.7% in 2022 to 15% in 2023. The increase in the share of Russian gas is, to some extent, explained by discounts and the fact that it is quite easy to hide the origin of liquefied gas.
10% of the EU's gas needs are met by domestic production. The share of Liquefied Natural Gas in energy imports increased from 20% in 2021 to 42% in 2023 and helped reduce our reliance on Russian pipeline gas.
117 RUSSIA Country Report May 2024 www.intellinews.com
