US and Russia discussing restoration of Russian gas supplies to Europe, Reuters reports
Photo: The US and Russia discuss restoring the supply of Russian gas to Europe (Getty Images)
Representatives of the United States and Russia held negotiations regarding US assistance in restoring the supply of Russian gas to Europe, Reuters informs.
The agency notes that since the beginning of Russia's full-scale war against Ukraine, Europe has significantly reduced its gas imports from Russia, leading to huge economic losses for the Russian gas monopoly, Gazprom. Meanwhile, the US has become one of the main suppliers of liquefied natural gas (LNG) to Europe, replacing Russian supplies.
However, some European countries, such as Hungary and Slovakia, continue to receive gas from Russia through the TurkStream pipeline.
Sources from Reuters claim that after a potential peace agreement between Russia and Ukraine, more European buyers may return to Russian gas. According to them, US involvement in restoring gas supplies could help Moscow overcome political opposition in most European countries.
The sources also state that the inclusion of the US would benefit Washington by providing visibility and possible control over how much Russian gas returns to Europe.
According to the agency's sources, Russian Gazprom, seeking to restore its European sales, is considering offering German clients short-term contracts of 24 months and large discounts, although it usually requires buyers to sign contracts for decades.
EU rejects Russian gas
Since the beginning of Russia's full-scale invasion of Ukraine, the issue of Russian gas supply has become strategically important for the EU. Russian fuel has gradually been pushed out of the European energy market.
According to Bloomberg, after the start of the war, EU countries reduced their purchases of Russian gas from over 40% to approximately 19% of total imports. At the same time, they remain dependent on LNG, the volumes of which have reached record levels. It is noted that rejecting Russian gas should not significantly impact prices or the energy security of the EU.
Yesterday, April 7, the EU prepared a "roadmap" for banning the import of Russian gas by the end of 2027.
The "roadmap" will require, by June, a proposal for a ban on new contracts for the import of Russian gas and short-term agreements by the end of this year.
At the same time, the European Commission rejected the possibility of resuming Russian fuel purchases after the war ends, as it would be "a historic mistake" for Europe.
