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Europe’s LNG Adoption Soars Amid Efforts to Reduce Reliance on Russian Gas

Western European governments have attempted to minimise their energy reliance on Russia since the war in Ukraine began. However, when it comes to gas, they have progressively replaced the country’s pipeline supplies with liquefied natural gas (LNG).

According to a Reuters’ data study, more than a tenth of the Russian gas that was previously carried by pipeline to the European Union has been replaced by LNG delivered to EU ports.

The rise is partly the result of discounts, industry and trading sources say.

Private Russian producer Novatek last year sold cut-rate cargoes into the EU rejected by buyers in other parts of the world, while state-owned Gazprom increased exports from its new Portovaya LNG project, offsetting its falling pipeline deliveries westward.

According to EU figures and Reuters’ estimates, the increase in LNG has restored Russia’s share in EU gas supply to roughly 15%, after pipeline imports from Gazprom, had fallen to 8.7% from 37% before the conflict.

Source: Energy Ghana