• Register

Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Experts called Russia the only significant gas supplier to the EU


September, 30 2021
watermark Economic news

Experts believe that Russia is currently the only country that can provide a significant volume of gas supplies to Europe in the coming winter.


Norway is also trying to increase gas exports. In September, the Norwegian oil and gas company Equinor announced that from October it would increase gas exports to the European market by increasing production at two fields. With this, Norway will be able to supply an additional 2 billion cubic meters per year. Norway exported about 112 billion cubic meters of gas last year, mainly to other European countries. It is worth noting that Norwegian gas covers 20% to 25% of the EU's gas needs.


Hungary and Russia's Gazprom on Monday signed a new contract for the supply of 4.5 billion cubic meters of gas per year over the next 15 years. At the same time, analysts note that Russia's ability to export gas to Europe is limited by domestic demand, a drop in Gazprom's production capacity and low reserves at the company's European storage facilities.


In this regard, the International Energy Agency (IEA) advised Russia to make more efforts to increase the availability of gas in Europe and fill storage facilities for the winter.


Top Top