MOSCOW, November 3. /TASS/. Introduction of a ban on Russian natural gas imports by the European Union in 2027 will entail the decline in supplies from Russia by 30 billion cubic meters (bcm), the International Energy Agency (IEA) said in its report.
"Russian LNG imports under long-term contracts are banned from 1 January 2027 and piped imports will be completely phased out by Q4 2027. This is set to reduce Russian gas exports to the European Union by 30 bcm in 2027 compared with 2026," the IEA said.
Russian pipe gas deliveries to the EU grew by 1.5% or by 0.2 bcm during nine months of this year. Exports to Turkey dropped by 17% or by 2.4 bcm over eight months of this year. The share of Russian pipe gas as part of the European demand remained at the level of 8% during nine months of this year, the IEA noted.
"Russian pipeline supplies to Turkey are less certain. They displayed strong variability in previous heating seasons and the extended gas supply contracts are set to expire by the end of 2026. The non-renewal of these gas supply contracts could reduce Russia’s piped gas deliveries to Turkey by more than 6 bcm y-o-y in Q1 2027, further tightening the regional and global gas balance," it added.