US President Joe Biden has temporarily paused new export approvals for liquefied natural gas (LNG). How could Washington s move backfire on energy trade?
Last year, Russia exported 76 billion cubic meters of natural gas to friendly countries, according to a presentation by First Deputy Energy Minister Pavel Sorokin for the Energy Day speech at the Russia exhibition and forum.
(Bloomberg) Europe, long-reliant on Russian natural gas, has nearly severed its dependency on the Kremlin in less than two years. Its preferred replacement — gas from the US — is widely viewed as abundant, politically palatable and less likely to be choked off than pipelines from Siberia.Most Read from BloombergGiuliani Lists Yankees Loot, Trump Claim as Assets in BankruptcyMacKenzie Scott Pares Her Amazon Stake by $10 BillionPutin Sends US Signal on Ukraine Talks, Seeing War AdvantageTrump O
Russia will use alternative routes and supplies of sea-borne liquefied natural gas in case Ukraine does not extend the deal on Russian gas transit to Europe, Kremlin spokesman, Dmitry Peskov said on Friday. The current five-year agreement between Moscow and Kyiv about Russian gas transit to Europe expires in the end of 2024.
The European Union is preparing to rule out a renewal of a deal between Kyiv and Moscow that has allowed Europe to receive Russian gas through Ukraine when it expires at the end of the year, Bloomberg reported on Jan. 26, citing anonymous sources familiar with the matter.