Alexey Gromov, Principal Director on Energy studies at the Institute for Energy and Finance, took part in the discussion "Gas for Rubles: buy if you can" at the Valdai International Discussion Club (Moscow).
Alexey Gromov stressed that, as of the beginning of the Russian military operation, Europe depends on Russia for 30-35 percent in consumption for coal, natural gas, and oil. At the same time, the level of Europe's ability to rebuild its fuel and energy balance strongly depends on the type of energy carriers. The most difficult thing is with gas supplies, since Russian gas enters Europe mainly through pipelines and in this sense, Europeans have no alternative to Russia.
"By the end of 2022, Europe will not be able to significantly reduce the volume of Russian gas supplies," the expert suggested, adding that Europe has already made a political decision to abandon Russian gas and by 2026 or 2027, American and Qatari LNG will probably be able to replace Russian gas.
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