Despite the European Parliament vote to ban the imports of Russian LNG and calls on Ukraine NOT to renew the gas contract with Russia to send Russian gas through Ukraine to Europe, we believe that the top European LNG importers (France, Spain and Belgium) will not ban Russian LNG.
They import significant volumes from Russia that cannot be replaced by imports from other countries.
Should these countries decide to ban the imports of LNG without any loopholes, it will not only lead to higher gas prices in Europe, but also to higher dependence on coal and change in global direction of LNG trade.
Source: Anas Alhajji
