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Presentation: Europe’s dependency on Russian gas

May 19, 2022
Ana Maria Jaller-Makarewicz
Document

Key Findings

Europe Is an important hub of Russian LNG for export to the rest of the world.

Gas demand in Europe has not been growing and is expected to fall, calling into question the rush to build new infrastructure.

There is a lack of Europe-wide energy planning and coordination.

Summary

The fallout from the Russian invasion of Ukraine has disrupted the world’s liquefied natural gas (LNG) market, driving prices to record levels while likely positioning the industry for a significant downturn as emerging Asian markets are priced out of the market, according to a panel of IEEFA experts.

IEEFA’s analysts find that the disruption in the LNG markets has been truly global. Russia, which faces a series of international sanctions, is the world’s second-largest natural gas producer, its third-largest oil producer, and its sixth-largest coal producer. In addition, Russia provides Europe with more than one-third of its gas supply.

 

Press release:  IEEFA experts trace the fallout from Russia’s invasion of Ukraine on global liquefied natural gas markets

Webinar: How is the Ukraine crisis and its fallout affecting global LNG markets?

 

Ana Maria Jaller-Makarewicz

Ana Maria Jaller-Makarewicz is an energy analyst for IEEFA’s Europe team. Her research focuses on topics related to gas and LNG, as well as other relevant European energy issues.

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