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Gazprom exports to Europe could fall by a third in 2022. Who were Russia’s main customers last year


Russia is responsible for about 40% of Europe’s gas needs, but the West is trying to reduce its dependence on it, especially after military intervention in Ukraine.

Plans that unfair countries will be forced to pay in rubles for Russian natural gas will also undermine the prospects for Russia’s gas exports, analysts added, given that Europe considered it a “blackmail” and refused. almost unanimously to comply with this request, informs Agerpres.

Sergei Kapitonov, an analyst at the Skolkovo School of Management Energy Center, estimates that Gazprom’s exports to Europe could fall by 40 to 45 billion cubic meters this year from about 150 billion cubic meters. in 2021.

For his part, Sindre Knutsson, an analyst at Rystad Energy, argues that the volume of gas exports through pipelines could fall further, “influenced by buyers’ demands to become less dependent on Russia or that Russia will limit volumes, such as example as a result of disagreements over the currency in which gas should be paid “.

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The specialist did not rule out the possibility of stopping gas supplies through Ukraine, if the war will prevent the safe operation of the pipelines.

Officially, Gazprom did not disclose its estimates for gas exports to Europe.

The quoted source states that last year, Gazprom’s main customers in Europe were Germany, which bought 45.8 billion cubic meters of Russian natural gas, Italy, 20.8 billion cubic meters, and Austria, which received 13.2 billion cubic meters.

Russia is Germany’s main gas supplier, accounting for a third of its gas needs, while Italy imports about 40 percent of its needs from Russia and nearly 80 percent from Austria.

So far, only Hungary has agreed to switch to ruble payments for Russian gas, a scheme that involves buyers opening a foreign currency account with Russian bank Gazprombank, which later converts the funds into rubles.

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An internal document of the European Commission claims that the payment in Russian rubles by the buyers from the European Union would mean a violation of the sanctions imposed on Moscow.

Alexei Gromov of the Institute for Energy and Finance Foundation says Russian pipeline gas could be partially supplemented by liquefied gas imported from the US or delivered by Russia’s Novatek Group, which does not have to charge its customers in rubles. Alexei Gromov estimated that exports of Russian gas through pipelines to the European Union could reach 105 billion cubic meters this year.

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