EU's gas dependence on Russia hits new record

The share of Gazprom's gas in the balance of non-CIS countries receiving Russian gas in 2016 reached 33.5%, after 31% in 2015.

Gazprom Export's December corporate bulletin Blue Fuel notes a steady increase in the company's share of gas on European market, it has already reached approximately 1/3.

According to the Interfax news agency, in 2016 Gazprom will supply to non-CIS countries about 179 billion cubic meters of gas (in the past year, the volume was 159.4 billion cubic meters).

According to analysts, in 2016 Europe's  gas consumption will grow from 469 to 488 billion cubic meters, and in Turkey, on the contrary, will decrease from 47.8 billion cubic meters to 45.1 billion cubic meters.

At the same time, the European market grew by 4-5%, Gazprom's gas supply to it increased several times higher -  by 13%.

The deputy director of energy policy of the Institute of Energy and Finances, Alexey Belogoriev, speaking to Vestnik Kavkaza, noted that the EU had to increase the purchase of gas from Russia, despite the desire to be less dependent on Gazprom, due to the sharp growth in demand for gas.
 
The choice in favor of large purchases from Russia is explained by the stability of Gazprom as a supplier, despite Europe's political problems with Moscow. "Over the past 15 years they have not managed to find alternative suppliers of pipeline gas. Supplies of Azerbaijani gas by the TANAP and TAP pipelines will not exceed 11 billion cubic meters by 2025, and it is not much for the European market. Expectations for the North African, Nigerian gas though Algeria were not fulfilled due to resource constraints in the region, and the war in Libya. In fact, the Russian gas competes only with LNG," Alexey Belogoriev noticed.
 
But LNG cannot compete with Gazprom because of a big price difference. "The consumer normally chooses on the basis of prices, supply reliability and flexibility." In the end, the share of Russian gas on European market and consumption will not decline. We will face risks only after 2025," the expert predicts.
 
"These risks are associated primarily with the commission of two pipeline suppliers in Europe, primarily Iran, then Turkmenistan. Also, when gas prices rise, Gazprom will lose the existing price advantage over LNG suppliers. But in the current market conditions, Gazprom has a very good position," Alexey Belogoryev concluded

4120 views

Read on the subject


More Russian news

Crimea to establish association of friends

Crimea to establish "association of friends"

The association of "friends of Crimea", which will unite politicians and economists from different countries, will be established in October of this year.  Ex-adviser of former French President Nicolas …

Muslim necropolis of VIII-IX centuries discovered in Derbent

Muslim necropolis of VIII-IX centuries discovered in Derbent

Muslim cemetery of VIII-IX centuries has been discovered in Derbent. The discovery happened at the site of construction of the museum-exhibition complex and office building. …

Armenian native detained for shooting at Zelenograd#039s cafe

Armenian native detained for shooting at Zelenograd's cafe

Russian police detained a native of Armenia in Zelenograd. He opened fire in a cafe, injuring one of the customers. Suspect tried to ran away, but he couldn't get far away and was detained a few minutes later. …

Poacher fails to sail away from trial in Adygea

Poacher fails to sail away from trial in Adygea

The police officers of the Krasnogvardeysky district detained a local resident for illegal fishing. The emergency situation occurred on the shore of the Krasnodar reservoir. The poacher used the prohibited fishing gear - the fishing …

Precious Christian artifact found in Crimea

Precious Christian artifact found in Crimea

The archaeologists working on the excavations of the Byzantine temple, discovered the base of a basilica. The xperts suggest that it was built more than 1500 years ago. The excavations are conducted on the territory of the ICC …

Body of Russian soldier found in Gyumri

Body of Russian soldier found in Gyumri

A corpse of a Russian serviceman was found today in Armenian city Gyumri. According to eyewitnesses, the man died as a result of a stab wound, received in a brawl, RIA Novosti reports, adding that now the local law enforcement agencies …

Does Kerch Strait ferry line change route?

Does Kerch Strait ferry line change route?

The Kerch Strait ferry line can change the route during the time of the bridge construction. According to the experts, such a measure will allow to differentiate cargo flows: passengers and buses will follow the Crimea-Port Caucasus …

Fire destroys apartment building in Dagestan

Fire destroys apartment building in Dagestan

Today, during a subbotnik, a fire broke out in one of the household in the village of Tissi in the Tsumadinsky district. The fire quickly spread to the house and outbuildings, the press service of the Ministry of Emergency Situations of the …

Scientists of Kabardino-Balkaria create unique polymer

Scientists of Kabardino-Balkaria create unique polymer

According to the Russian Foundation for Advanced Studies, an ultra-strong polymer, superior in strength to metal, was developed by the staff of the Kabardino-Balkar State University. According to the experts, the materials of the new …

Yevgeniya Svatuhina on Vesti.FM: Russian language almost adopted the Latin alphabet 90 years ago

Yevgeniya Svatuhina on Vesti.FM: Russian language almost adopted the Latin alphabet 90 years ago

The process of latinisation of the alphabets among the Soviet states, which began immediately after the collapse of the USSR, continues at the present time. For example, Moldova, Azerbaijan, Turkmenistan and Uzbekistan adopted the Latin alphabet. …

more Russian news