Moscow sees EU as unreliable customer, Russian gas highlights sanctions reality

The Brussels-based Bruegel research group said that in the second quarter of 2024, Russian gas will account for about 17% of Europe's total imports, ahead of the US.

Russian supplies – including LNG and pipeline gas – flow into the EU via Belarus and Ukraine. (Source: Reuters)

According to the group's data, European customers received 12.27 billion m³ of US liquefied natural gas (LNG) in the second quarter of 2024. Meanwhile, Russia delivered 12.73 billion m³ of gas to the European Union (EU).

Moscow's supplies – including LNG and pipeline gas – flow into the EU via Belarus and Ukraine.

Dmitry Birichevsky, head of the economic cooperation department at the Russian Foreign Ministry, said the development was proof that the 27-member bloc's sanctions against Moscow were failing.

"The facts speak for themselves. Greece alone quadrupled its gas purchases from Russia in 2023. Meanwhile, in the first quarter of 2024, France doubled its LNG purchases from Russia to 4.4 billion m³, a significant portion of which was re-exported," the official stressed.

The head of the economic cooperation department at the Russian Foreign Ministry added that the country's top priority is to redirect trade from Europe to countries in the East and South of the globe.

“Moscow now sees the EU as an unreliable client,” he asserted.

Since Russia launched a special military operation in Ukraine in February 2022, European countries have been trying to find alternatives to Moscow's gas, including importing LNG from the US.

However, the price of imported LNG from abroad is much more expensive than natural gas supplied through pipelines from Russia under long-term contracts.

In addition, Russian LNG is also chosen by European countries because this commodity is not subject to sanctions. That causes a paradox when the region reduces gas purchases from the land of birch through pipelines but increases LNG imports.

Source: https://baoquocte.vn/moscow-coi-eu-la-khach-hang-khong-dang-tin-cay-khi-dot-nga-chi-ro-mot-thuc-te-ve-lenh-trung-phat-285077.html