How Much Russian Gas Does Europe Use?

0
116

Since the invasion of Ukraine, Western countries have sanctioned Russian oil and gas, prompting warnings of retaliation from Moscow.

How much Russian gas does Europe use?

Russia supplied the EU with 40% of its natural gas last year.

Germany, Europe’s largest economy, was the largest importer in 2020, followed by Italy.

The UK imported just 4% of its needs from Russia and the US doesn’t import any gas from Russia.

However, they are also affected when Russia restricts supplies to mainland Europe, as this causes global gas prices to rise. Gas prices have almost doubled in the UK over the last year.

Russia gas exports

What sanctions are in place on Russian gas?

The EU says it will cut gas imports from Russia by two-thirds within a year, but has stopped short of a total ban.

To help reach its goal, member states have agreed to cut gas usage by 15% over the next seven months.

However, there’s doubt over where the EU will find alternativesupplies.

“It would have to turn to producers such as the US and Qatar, which would ship liquefied natural gas (LNG) in tankers,” says energy advisor Kate Dourian.

“But there aren’t enough LNG terminals in Europe. This will be a problem for Germany, particularly.”

Leave a reply