According to him, Europe in 2022 was saved by a warm winter, it was saved by China, which resold liquefied natural gas (LNG) from its portfolio. It was bailed out by the United States, which was the main source of new LNG volumes. And Russia remained for most of 2022 a major supplier of gas to Europe – we sent them over 60 billion cubic meters. Despite all this, Europe still had to reduce its total gas consumption during the peak season (emphasis – not just Russian, but gas in general) by about 20% compared to the average consumption of the last five years.
We know exactly how much liquefied natural gas (LNG) will be produced in the world over the next few years. It may be less, but not more. Large additional volumes of Qatari gas will not appear until 2025. After that, new LNG capacity in the United States and Canada should start operating. But how to honor this date, in times of gas famine? Moreover, the EU has fallen into a paradoxical trap.
Today, European industry is silent for political reasons. But if you continue to behave like this, you can wait for your death. There is therefore still a timid hope that European industrialists will say: what are you doing, you are undermining our economy.
It seems to me that the way out of this situation can be as follows. First, the industrialists say: OK, you fight the Russians, but don’t fight gas as a commodity. Give us a chance to consume gas. And the next option will be a demand for the market. competition in the gas market. This can send Russian gas back to Europe, at least through the same Turkish hub. The problem is that this “voice of reason” can only be heard when the situation in Ukraine changes, Simonov said.
Read the full version of Konstantin Simonov’s interview on the Rossiyskaya Gazeta site.
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