Russian LNG to Europe mainly goes to France & Spain where TotalEnergies / Naturgy hold long-term contracts with NOVATEK/Yamal LNG.
UK embargo stopped imports by April 2022 whilst volumes to EU grew over 2022.
We observe a remarkable increase to Belgium in Nov 2022 and December (estimated).
Overall, Russia makes around 13% of 2022 EU LNG imports and added ca 3 Mt (~4bcm) in 2022.
The addition is by far less than the loss of 75-80 bcm Gazprom’s pipeline gas in 2022 in ICIS data.
Source: Andreas SCHROEDER
