A study by Bloomberg New Energy Finance (BNEF) states that EU this winter, there will be enough fuel to generate electricity, and she is ready to survive the coming winter without Russian gas.
The main factor was the intensive purchases of liquefied natural gas (LNG) by the European Union. The coming winter notes Bloomberg, the region could import nearly 40% more LNG than a year earlier, and could increase purchases by about 14% in the summer to replace lost stocks. This, the newspaper notes, is quite enough to compensate for the complete halt in the supply of Russian fuel and survive the cold.
To obtain additional volumes, European buyers will need to purchase 90% more gas on the LNG spot market than they received under long-term contracts, further intensifying competition with Asia. This will support world gas prices, which have risen sharply since Europe announced its desire to reduce dependence on Russia. The BNEF forecast also became known, according to which Europe will import 40 million tons of LNG this winter and a little more in the summer. Meanwhile, large volumes of Russian LNG will flow to China, where winter demand is expected to fall 16% from last year.
As a reminder, the grand opening took place on September 27 Baltic Pipe gas pipeline, which, quite possibly, can become an alternative to Nord Stream. The gas pipeline, worth about 1.6 billion euros, is a new route for the supply of natural gas. Work on it was completed ahead of schedule. The construction investors were the Danish company Energinet and the Polish Gaz-System.
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