Bloomberg: Europe will have enough gas this winter even if supplies from Russia stop

Europe will be able to live without Russian gas this winter if the Russian Federation suddenly stops supplies. For this, it will need to import 40% more liquefied gas than last year.

Bloomberg writes about it.

The publication notes that Europe has opportunities to increase procurement on such a scale. It will also be able to buy 14% more gas than usual next summer to restore lost supplies.

Despite falling demand due to high energy prices, these supplies are enough to cover the complete shutdown of Russian pipeline flows from October 1.

The baseline scenario assumes that weather conditions will match the average of the last 10 years. In the absence of Russian gas supplies, Europe is expected to import 40 million tonnes of liquefied natural gas this winter and slightly more in the summer to replenish supplies. This will leave 12 million tons of volume for Asia. But if there is a cold winter in Asia, it will increase the competition for gas in the world and lead to a rise in prices.

• On September 26, in one day, the Russians recorded a drop in pressure at once on two of their gas pipelines to Europe — on North Stream and North Stream 2, which were never put into operation. Both gas pipelines are almost not working and are not pumping gas from Russia to Europe. North Stream 2 was never launched due to the invasion of Russian troops into Ukraine, but North Stream was almost completely stopped in the summer allegedly due to problems found. Gas from Russian gas pipelines entered the Baltic Sea.
• The German newspaper Tagesspiegel reported with reference to a representative of the authorities that the damage to the Russian gas pipelines Nord Stream and Nord Stream 2 probably occurred as a result of targeted attacks. The German government is considering two versions — the first, that the gas pipelines were damaged by Ukraine, and the second, that it was the work of Russia to accuse Ukraine of sabotage.