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Billions in imports: EU buys large quantities of Russian liquid gas

2022-12-16T11:19:07.289Z


Billions in imports: EU buys large quantities of Russian liquid gas Created: 12/16/2022, 12:02 p.m By: Patricia Huber If possible, the EU would like to stop importing goods from Russia. However, that doesn't work with gas. LNG imports have actually increased since the start of the Ukraine war. Brussels – The oil embargo against Russia imposed by the EU after the Ukraine war has been in effect


Billions in imports: EU buys large quantities of Russian liquid gas

Created: 12/16/2022, 12:02 p.m

By: Patricia Huber

If possible, the EU would like to stop importing goods from Russia.

However, that doesn't work with gas.

LNG imports have actually increased since the start of the Ukraine war.

Brussels – The oil embargo against Russia imposed by the EU after the Ukraine war has been in effect since December 5th.

This is intended to prevent further cash flows from Europe to Russia.

But while oil imports are to be put on hold, Europe continues to buy Russian gas.

EU has increased LNG imports from Russia

LPG imports from Russia even increased compared to the previous year.

Because before the start of the Ukraine war, 21 percent less liquefied natural gas (LNG) was imported from Russia than is currently the case.

This emerges from the latest figures from the market research company Icis, as reported by the

Handelsblatt

.

The EU pays a lot of money for the Russian LNG.

Roughly estimated, the EU states including Great Britain could have paid almost 27 billion euros, writes the magazine.

So, despite the freeze on deliveries through regular routes, such as the Nord Stream 1 gas pipeline, Russia still made a lot of money from its gas.

LNG in the EU: 13 percent of imports from Russia

Germany and the entire EU are already looking for alternative gas suppliers.

But the process continues.

In addition, Germany has not yet had a single active LNG terminal.

The first is scheduled to open in Wilhelmshaven on December 17th.

Until then, gas will continue to be bought through countries such as France, Belgium and the Netherlands.

Russian gas also arrives in Germany with these imports.

"13 percent of European LNG imports currently come from Russia - and the amount is growing rapidly," explains Icis gas expert Andreas Schröder to the

Handelsblatt

.

From 2026, another - also controversial - country with gas deliveries should remedy the situation.

Then Qatar would like to deliver LNG to Germany.

The planned quantity could cover around three percent of Germany's annual requirements.

On November 29, 2022, the energy giant Qatar Energy signed two agreements with the US company Conoco Phillips, which is to deliver the gas to Brunsbüttel.

A liquid gas terminal will also be built there.

(ph/dpa)

Source: merkur

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