... cubic meters, while production was around 18.1 billion cubic meters, notes Sergey Tereshkin, CEO of Open Oil Market. This year, Ukraine has further increased its dependence on imported gas. For instance, in February, imports surged twelvefold. In July, gas imports grew 1.5 times compared to June, reaching 833 million cubic meters. “Why is gas import to Ukraine rising? Firstly, there is an urgent need to fill underground gas storage facilities to prepare for the heating season. Secondly, domestic production ...

... but by the end of the 2020s, production is expected to reach 60 million cubic meters per day. For comparison, Turkey’s LNG imports in 2023 were 40 million cubic meters per day. “With the development of Sakarya, Turkey could not only replace LNG imports but also become a significant gas supplier to Southern Europe. Much will depend on the development path for the field’s infrastructure: whether it will involve building underwater export gas pipelines or expanding LNG liquefaction capacities. In the latter case, Turkish gas will ...

... EU countries are ramping up imports of LNG from the USA, Qatar, and other major producers. In recent years, countries such as Germany have constructed terminals for receiving LNG, facilitating supply diversification. However, even with increased LNG imports, the risk of gas shortages remains if the winter proves to be harsh. 2. Strengthening Cooperation with Norway and Other European Suppliers Norway currently plays a leading role in gas supplies to Europe, compensating for some of the lost volumes from Russia. However,...

... "Sudzha" gas metering station for Europe. In his opinion, despite the increase in gas prices, the impact on European consumers will be limited. This is due to the low share of supplies through the "Sudzha" station in the overall gas imports to the EU, ongoing gas savings, and reduced consumption in industry. Tereshkin forecasts that the average monthly gas prices in Europe will not exceed $500 per thousand cubic meters in August 2024, after which they will begin to correct, despite ...

... winter. This article explores the causes of these risks, the current status of alternative supplies, and the measures that EU countries are taking to stabilize the situation. Primary Causes of Potential Supply Disruptions 1. Reduced Russian Pipeline Gas Imports A decrease in Russian gas supplies to Europe remains a major issue in the EU’s energy policy. At the end of 2024, a five-year agreement on Russian gas transit through Ukraine is set to expire. With Ukrainian authorities indicating reluctance ...