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EU market open for Russian LNG, supply to grow to 21 bln cubic meters in 2022 — Deputy PM

Russian Deputy Prime Minister Alexander Novak noted that there is still gas deficit in Europe, so Russia is ready to resume supplies via the Yamal-Europe pipeline

Russian Deputy Prime Minister Alexander Novak Vyacheslav Prokofyev/TASS

Russian Deputy Prime Minister Alexander Novak

© Vyacheslav Prokofyev/TASS

MOSCOW, December 26. /TASS/. The EU market remains open for Russian liquefied natural gas (LNG), Russian Deputy Prime Minister Alexander Novak told TASS, adding that, during the 11 months of 2022, LNG supplies increased to 19.4 billion cubic meters.

"Even now this market is not closed. For example, we were able to significantly increase LNG supplies to Europe this year; they have increased to 19.4 billion cubic meters in 11 months of 2022, and we expect 21 billion cubic meters by the end of the year," Novak said.

He noted that there is still gas deficit in Europe, so Russia is ready to resume supplies via the Yamal-Europe pipeline. Russia also holds negotiations on increased supplies through Turkey after a gas hub is created in this country.

"The European market remains relevant, because a gas deficit remains, and we have all capabilities to restore supplies. For example, the Yamal-Europe pipeline, shut down over political motives, remains unused," Novak noted.

Right now, Russia supplies gas through the TurkStream pipeline, which currently runs at full capacity, while the Ukrainian route supplies 42 million cubic meters of gas daily, or about one third of the transit volume stated in the contract.

"Right now, the implementation of additional gas supply volume through Turkey after a gas hub is created there is being discussed. We actively work with the countries that will take part in this project, as well as with the consumers that require gas from Russia," he added.

Novak also noted that applications from European consumers for increased gas supplies come in all the time.

"Today, we can say with certainty that there si demand for our gas. So we continue to view Europe as a potential market for our produce. It is clear that a wide-scale campaign has been initiated against us, which ended with sabotage against the Nord Stream pipeline," he added.

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Alexander Novak

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