Russia’s defends its share of European gas market

Russia’s ability to retain and possibly regain some of the lost share of the European gas market will depend on four pivotal decisions that will need to be taken in the upcoming year. In a scenario where Russian LNG is banned and assuming average winter demand and an ongoing 15% demand reduction, ICIS projects the EU-27 bloc would end this heating season with around 53billion cubic metres (bcm)in storage, or a 47% storage fullness level. The storage carryout would be 15bcm higher than the five-year average between 2017-2021. Source: ICIS