According to data, Gazprom's pipeline gas supplies to Europe reached 14.6 billion cubic meters from January to June, via Ukraine and Turkish Stream.
That's well below the annual sales to the region of about 130-175 billion cubic meters seen before the invasion. But it compares with the 15.2 billion cubic meters Gazprom supplied to China in the first half of this year, according to Bloomberg.
Calculations show that by the end of 2024, Europe and China will take turns becoming the largest buyers of Russian pipeline gas. “Even after multiple rounds of international sanctions, Russia still supplies significant volumes of gas to some European countries, and the volume has actually increased this year. However, Moscow has not struck any new deals to boost its sales to China.”the message says.
After the start of a full-scale war with Ukraine, most countries EU joined anti-Russian sanctions and limited gas purchases. Although Norway now supplies 30% of the bloc's gas, Gazprom remains a critical and growing source of energy for some countries, including Austria, Hungary and Slovakia. Pipeline shipments to the region rose more than 26% in the first half of the year compared with the previous year, according to Bloomberg calculations.
But there is a risk to these flows. About half of the gas passes through Ukraine, where Gazprom's five-year transit agreement expires in December 2024. Kyiv has repeatedly said it will not renew the agreement, but European officials are negotiating to keep the gas flowing through the country, the agency notes.
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