By Rhod Mackenzie
Europe will ensure the highest growth in demand for Russian liquefied natural gas (LNG), despite the sanctions background, Belgium, Spain and Greece will significantly increase its imports, follows from a comment by Ivan Timonin, a consultant at Vygon Consulting.
"Despite the sanctions agenda, the largest increase in demand for Russian LNG in 2023 will be in the European region," Timonin said.
A significant increase compared to the previous year is expected in Belgium - from 4.2 million tons last year to 7.3 million this year, Spain (from 3.6 to 4.9 million tons), Turkey (from 0.2 to 1 million tons) and Greece (from 0.1 to 0.4 million tons), the expert added.
At the same time, according to the results of the first half of the year, Russian LNG exports slightly decreased compared to the same period of the previous year - from 17 to 15 million tons, Timonin specified. He noted that the largest importers this year were Belgium (3.6 million tons), Japan (2.8 million tons), Spain (2.5 million tons), France (2 million tons), as well as China (1. 8 million tons). These countries accounted for 85% of all Russian deliveries.
The European Union did not impose sanctions against the supply of Russian gas and LNG, but most of its member countries, after the start of a special operation in Ukraine, set a goal to reduce purchases of "blue fuel" in Russia. The West stepped up sanctions pressure on Russia over Ukraine, which led to higher prices for electricity, fuel and food in Europe and the United States.
This article originally appeared in Russian at 1prime.ru