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Column by the Executive Director of the Association Artem Petrenko for NV.Business.
The war in Ukraine fundamentally changes the global hydrocarbon market and creates new unpredictable challenges.
Market restructuring
From the first days of full-scale Russian aggression in Ukraine, Europe took a clear position, declaring a refusal to use bloody energy resources. The result did not take long. If last year the share of gas from the RF in the total consumption in the EU countries was 36%, then as of September, it was only 9%, which continues to decrease rapidly. It is expected that in 2022, pipeline supplies of Russian gas will fall by more than 55%, that is, by 80 bcm.
Blackmail and attempts by the Kremlin to disrupt the heating season in the EU are currently not working out. As of the beginning of November, the filling level of European underground gas storage facilities reached 95%. This was achieved with minimal transit through Ukraine, the suspension of Nord Stream-1, and disruptions in supplies through the Turkish Stream.
Read more (in Ukrainian) - https://biz.nv.ua/ukr/experts/rosiya-prograye-gazovu-viynu-yak-yevropa-vidmovlyayetsya-vid-rosiyskogo-gazu-ostanni-novini-50284163.html