Europe will have to buy more Russian gas

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Photo: Vitaly Timkivi / RIA Novosti

In the next five years “Gazprom” can significantly improve the supply of gas to Europe and increase its share of the local market, says the family-owned Demyan Kudryavtsev, the newspaper “Vedomosti”.

Such a perspective is associated with the fact that a number of other channels of delivery are reduced, and the demand is growing. So, at the end of December that it became difficult to keep the supply of gas to Europe on the same level, said the Minister of energy of Algeria, Mustafa Gitani. Although in 2017, Algeria has supplied to Europe via pipelines and as liquefied natural gas (LNG) 49.6 billion cubic meters, due to the growth of consumption already by 2022 from exports can decline. “We just got enough for our domestic needs,” said Hitone. Algeria now produces 130 billion cubic meters of gas, of which half remains in the domestic market.

In the Netherlands, filed 26 lawsuits from regional authorities and private entities about termination of gas production at the largest field in Groningen, which produces half of Dutch gas. All country supplies Europe with 39.1 billion cubic meters. The field I want to close, because its development is causing a strong earthquake. The Norwegian oil Directorate (NPD) has reduced the forecast on gas exports in 2022 to 121.4 billion cubic meters a year, previously expected exports at the level of 123.1 billion cubic meters.

If production at the Groningen and supplies from Algeria to stop, and in Norway will not be able to discover new large deposits, the need of Europe for imported gas from other sources will grow by more than 50 billion cubic meters (a quarter of the current supply of Russia), the Director of the division of corporations, Fitch Dmitry marinchenko. In his opinion, this will create new opportunities for LNG producers and for Gazprom, which is after starting the “Nord stream-2” will receive a new power for export.

Europe’s need for imported gas, according to Eurostat, in 2017 rose by 8.3 percent to 312,1 billion cubic meters. Gazprom expects that by 2025 the demand will grow further by 19 percent, and by 2030 — 25 percent. The peak of gas imports in Europe, according to the International energy Agency, will be in 2025, then the volume will be 409 billion cubic meters per year.

In October, the Vice-President of Board “Gazprom” Alexander Medvedev has declared that projects “Northern stream-2” and “Turkish stream” is vital for the EU to meet additional gas demand.

Video, photo All from Russia.

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