Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to the internet portal "Media Paragraph" on the prospects for imposing an embargo on Russian LNG in the EU countries.
Europe will not do without Russian LNG this year, but in the second half of 2025 it will be possible to switch to supplies from the United States and Qatar.
"It is far from obvious that the ban will be included in the 14th package of sanctions, they will come up with some kind of deferred action mechanism. If a decision is made, it will be about the second half of 2025, or there will be a reservation that national governments will finally decide. Spain, France, Belgium, the Netherlands, Finland and Greece are currently buying liquefied natural gas from Russia. I am not sure that they are ready to abandon these supplies. There is a hidden shortage of LNG on the world market now, and opportunities to find new offers are limited, so it is almost impossible to replace Russian volumes with European countries. However, Europeans will have such an opportunity from the second quarter of 2025," Belogoryev explained.
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