The European gas market is undergoing historic changes: Gazprom faces serious challenges after ending 60 years of cooperation with the EU. A 9-fold reduction in exports, increased competition from American LNG, and Europe's transition to "green energy" have changed the geopolitical and economic picture. In this article, we examine in detail how the company is adapting to the new realities, which markets can become salvation for the Russian gas giant, and ...

... transit agreement expiring in January 2025. Market players are already buying futures to hedge against potential disruptions. Asian Competition Intense competition with Asian buyers for LNG also affects prices. “If Asian demand rises, they can outbid Europe for LNG supplies, forcing Europeans to increase their offers,” Yushkov explains. Sanction Policies Talks of a 15th EU sanctions package targeting Russian LNG add tension. “If Europe bans Russian LNG outright, even with a delay until late 2025, prices ...

... ban in the 15th sanctions package, its implementation might be delayed until 2026," Yushkov predicts. Sergey Tereshkin, CEO of Open Oil Market, adds that a complete LNG ban is unlikely before the end of the winter season (March 31), as Russian LNG helps Europe mitigate supply risks. For instance, France imported 4.98 million tons of Russian LNG in the first ten months of 2024, followed by Spain (4.18 million tons), Belgium (2.20 million tons), and the Netherlands (1.05 million tons)—a total of 12.4 ...

... Markets Global instability in energy markets has led to sharp fluctuations in gas prices and reduced available supply. Increased competition for LNG, especially with high demand in Asia, has driven prices up, raising the cost of securing winter stocks in Europe. The elevated prices and limitations in LNG availability pose additional challenges to the EU’s winter preparations. EU's Response to Stabilize the Situation 1. Expanding LNG Imports To reduce dependency on Russian gas, EU countries are ramping up LNG imports from the U.S., Qatar, and other ...

... record temperature peaks this summer have heightened demand for LNG for power generation. However, many Asian buyers are reluctant to pay the current high spot prices – instead, some are switching to coal for generation. This factor somewhat eases Europe’s task in attracting sufficient LNG volumes: competition for spot parcels between regions remains restrained for now. Overall, the gas market is balancing between Europe’s desire to replenish stocks and the limited ability to ramp up global export supplies. Market participants will ...