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Experts called Russia the only significant gas supplier to the EU

September, 30 2021

Experts believe that Russia is currently the only country that can provide a significant volume of gas supplies to Europe in the coming winter.

Norway is also trying to increase gas exports. In September, the Norwegian oil and gas company Equinor announced that from October it would increase gas exports to the European market by increasing production at two fields. With this, Norway will be able to supply an additional 2 billion cubic meters per year. Norway exported about 112 billion cubic meters of gas last year, mainly to other European countries. It is worth noting that Norwegian gas covers 20% to 25% of the EU's gas needs.

Hungary and Russia's Gazprom on Monday signed a new contract for the supply of 4.5 billion cubic meters of gas per year over the next 15 years. At the same time, analysts note that Russia's ability to export gas to Europe is limited by domestic demand, a drop in Gazprom's production capacity and low reserves at the company's European storage facilities.

In this regard, the International Energy Agency (IEA) advised Russia to make more efforts to increase the availability of gas in Europe and fill storage facilities for the winter.

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Pembaruan dan Prakiraan Pasar

Experts called Russia the only significant gas supplier to the EU

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