HomeMediaLatest NewsThe EU will not be able to do without LNG from Russia until at least the second quarter of 2025

The EU will not be able to do without LNG from Russia until at least the second quarter of 2025

Belogoryev Alexey M. Research and Development Director, Director of the Center for Energy strategic analysis and forecasting

Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to TASS on the prospects of imposing an embargo on Russian LNG in the EU.

Alexey Belogoryev believes that if the decision on the ban is made, it will no longer affect LNG supplies in 2024. "Definitely not in 2024, in the most pessimistic scenario, we will be talking about January 2025 or even the second half of 2025, maybe even the end of it. In addition, exceptions may be adopted for a number of countries," the expert clarifies.

Belogoryev associates the EU's dependence on Russian LNG with the fact that there is now a hidden shortage of supply on the market: additional volumes will not appear in 2024, and the market situation is aggravated by the downtime of the Russian Arctic LNG - 2 project.

According to him, the situation may change from the beginning of 2025, when new capacities will be introduced, primarily in the United States. Starting in the second quarter of 2025, the EU will have the opportunity to increase supplies, but everything will depend on the demand for LNG in Asia, as part of this volume will be directed to these markets.

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