Dutch courage: the Netherlands aims to phase-out Russian fossil fuels by the end of 2022, including natural gas.
The Netherlands imported around 6 bcm of piped gas last year and close to 3 bcm of LNG. The country is also an important transitor for Russian gas to the UK (via BBL) and to Belgium.
Russian import flows have been way down since the beginning of the year and GasTerra’s long-term contract with Gazprom expires on 1st October 2022 at the start of the new Gas Year.
The Netherlands is set to increase its regas capacity this year by 8 bcm/y via the Eemshaven FSRU (4 bcm/y) and the expansion at GATE.
What is your view? How fast will the rest of the EU follow the Baltic states and the Netherlands? What will be the impact on TTF? An even stronger influence of LNG prices?
Source: Greg MOLNAR