Russian gas consumption by EU

Investment Analysis Clubs Macro Economic Trends and Risks
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In 2013 the shares of Russian natural gas in the domestic gas consumption in EU countries were:

Estonia 100%
Finland 100%
Latvia 100%
Lithuania 100%
Slovakia 100%
Bulgaria 97%
Hungary 83%
Slovenia 72%
Greece 66%
Czech Republic 63%
Austria 62%
Poland 57%
Germany 46%
Italy 34%
France 18%

https://en.wikipedia.org/wiki/Russia_in_the_European_energy_….

Jaak

4 Likes
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Interesting summary on Germany’s economy and it’s reliance on Russian gas:

https://www.investmentwatchblog.com/alasdair-macleod-the-col…

1 Like
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Interesting summary on Germany’s economy and it’s reliance on Russian gas

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Thank you for posting the interesting summary on EU’s economy.

The UK economy is in the same boat as the EU economy.

From the article:

Russia is a far more serious issue than Brexit ever was. The EU has, to varying degrees, disposed of its fossil fuel capacity to placate environmentalists, exporting their production to nations not so squeamish about fashionable climate change strictures. Consequently, the EU has become highly dependent on Russian natural gas and oil, which in cavalier fashion it has decided to do without to punish Russia over its invasion of Ukraine.

Jaak

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For the first time in almost two years, European Union countries imported more natural gas in a single quarter from Russia than from the United States, according to a new study of the energy market by Brussels-based think tank Bruegel.

The EU purchased more than 12.7 billion cubic metres of natural gas from Russia and 12.3 billion from the US from April to June this year, the study shows…

Norway remains the EU’s largest gas supplier with 23.9 cubic metres in the second quarter. Russia held this position until it invaded Ukraine in February 2022, after which many EU states cut back on Russian imports.

According to the German government’s statistics, Germany no longer purchases gas from Russia. However, across the EU, Russia has risen to second place in the list of suppliers, just ahead of the US. The countries of destination were not clear from the data.

DB2

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Yes - Russian friendly countries like Hungary and Slovakia are importing natural gas.