Russia continues to surpass the US in gas supply to Europe

According to RIA Novosti on October 4, data analysis from Bruegel Company, based on the results of the third quarter, Russia once again surpassed the US in gas supplies to the European Union, and also held the highest market share in 9 quarters.

During this period, Russia supplied 13.3 billion cubic meters of gas to the European market, compared to 13 billion cubic meters in the previous quarter and 11.5 billion cubic meters a year earlier. As a result, the share of Russian companies in European imports increased to 19.4%, from 17.2% in April-June, reaching its highest level since the second quarter of 2022.

Russia supplies gas to Europe mainly via pipelines: pipeline supplies increased 8% in the quarter and almost 13% on the year to 8.6 billion cubic meters. LNG exports in the third quarter amounted to 4.7 billion cubic meters, 6% lower than the April-June level, but 21% higher than in the third quarter of last year.

For its part, the US cut its LNG supplies by a quarter in the quarter and by a third in the year, to 9.5 billion cubic metres. As a result, for the second consecutive quarter, the US became the third-largest gas supplier to the European Union, with Russia becoming the second-largest.

Norway remains the top gas exporter from Q3/2022 with 21.7 billion cubic meters in July-September. At the same time, over 3 months, the country has reduced its supply by 9%, but is still 5% higher than the same period last year.

The top five main gas suppliers to the EU in Q3 also included Algeria, which reduced its supplies by 19% to 7 billion cubic metres in three months, while the UK increased its supplies by almost 40% to 5.1 billion cubic metres.

Earlier, RIA Novosti reported that in July 2024, the US sharply reduced its exports of liquefied natural gas to the EU, as US suppliers' income fell to its lowest level since 2021. The main reason for the decline was the reorientation of supplies to the Asian market.

America and Russia