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This Friday, the US and the EU signed an agreement on liquefied natural gas, aimed at reducing Europe’s dependence on Russian energy.
But even if the US significantly increases liquefied natural gas supplies to Europe, for the 27 EU member states it is only a start, writes the BBC.
While analyzing the situation, the BBC brings another perspective, raising the question of whether this agreement will fully achieve its purpose !?
It seems that the EU will still have to find other producers if they want to get away from Russian gas and achieve their target of reducing imports by two-thirds this year.
Last year the EU imported 155 billion cubic meters of Russian gas. This is about 40% of its gas imports.
Germany alone imports 55% of its gas from Russia and has already suspended the opening of a new Russian pipeline called Nord Stream 2.
Last year the EU said it received almost a quarter of its liquefied natural gas from the US, so if the US increases its supplies by an additional 15 billion cubic meters, it would make a big difference, BalkanWeb reports. But it also raises big questions!
Qatar and Russia are the other major exporters and Qatar says it can no longer deviate towards Europe.
Moreover, there is limited availability at liquefied natural gas terminals in Europe, which are already operating at high capacity.
There are 24 large-scale terminals in the EU and they are essential for the “regasification” of liquid imports.
Spain has the largest capacity, but limited pipelines in the rest of Europe.
Germany is also looking beyond the US for (LNG) supplies and has talked to Norway about on-time deliveries for next winter.
Source: BBC
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