Page 145 - RusRPTJul24

The European Union spent more than $630bn on gas imports from countries other than Russia in 2021 - 2023, which is comparable to Europe’s gas spending over eight years, Head of Rosneft Igor Sechin, said at the St. Petersburg International Economic Forum. Sechin also noted that the figure is approaching European investment in green energy over the same period, comparable to the GDP of Sweden and Poland, and almost four times the total GDP of the Baltic countries.
Global gas consumption in the Q1 of 2024 increased by more than 40 bcm, mainly due to the Asia-Pacific countries, and in Europe the figure fell by another 3.2%, Gazprom said in a statement following a meeting between the company’s CEO Alexey Miller and President of SOCAR Rovshan Najaf within the framework of the St. Petersburg International Economic Forum (SPIEF).
The largest increase, 20 bcm, was noted in the Asia-Pacific region. China led the region in natural gas consumption, accounting for two-thirds of the increase in the Q1. "The volume of the Chinese natural gas market already exceeds the total consumption of all the countries of the European Union," Gazprom noted.
At the same time, gas consumption in Europe continued to fall - in the Q1 it decreased by 5 bcm or by 3.2% y/y. The largest declines were seen in the largest European economies - Germany, the UK, and Italy, the company said.
Gazprom has signed contracts with Kazakhstan for gas transit to Uzbekistan and Kyrgyzstan, a TASS correspondent reported from the
145 RUSSIA Country Report July 2024 www.intellinews.com