Despite falling demand, Russian gas flows into the EU continue to soar

On July 16, the Czech Republic News Agency (CTK) cited a July report from the Gas Exporting Countries Organization (GECF) saying that in the first half of 2024, a total of 80 billion cubic meters of natural gas were transported into the European Union (EU) through pipeline systems.

Russian gas exports to the EU have increased sharply. (Source: The Moscow Times)

More than half of the gas is imported from Norway. The next main exporters are Algeria, Russia and Azerbaijan.

GECF did not provide specific figures for individual exporters, but said that compared to the same period in 2023, the amount of natural gas the EU imported from Russia increased by 24%.

However, EU gas demand is still on a downward trend as liquefied natural gas (LNG) imports into the bloc in June fell to 7.4 million tonnes, the lowest level since October 2021.

In the first 6 months of the year, LNG imports into the EU decreased by 19% compared to the same period in 2023, down to 47.22 million tons.

Since the outbreak of the conflict in Ukraine in February 2022, EU member states have been trying to reduce their dependence on Russian energy, mainly natural gas.

The 27-member bloc is still trying to reduce consumption and look for alternative supplies, such as LNG from the US or gas from Azerbaijan.

Source: https://baoquocte.vn/nhu-cau-tieu-thu-giam-luong-khi-dot-tu-nga-chay-vao-eu-van-tang-vun-vut-278968.html