GECF: EU Increases Purchases of Russian Pipeline Gas by Billions of Cubic Meters
The European Union (EU) reduced gas consumption by seven percent in July 2024, but pipeline supplies of this resource increased by two percent, according to TASS with reference to the report of the Gas Exporting Countries Forum (GECF).
Since the beginning of 2024, pipeline imports of Russian gas to Europe have increased by 3.1 billion cubic meters. Overall, from January to July, pipeline supplies to the European Union increased by five percent to 93 billion cubic meters. At the same time, total gas consumption in the EU over seven months decreased by 4.5 percent.
As for liquefied natural gas (LNG) supplies, they fell by 26 percent year-on-year in July. In turn, Asian countries increased imports of this resource by 14 percent, to 23.4 million tons.
It was previously reported that in the first half of 2024, Russian gas supplies to the Czech Republic increased eightfold. Purchases of this fuel have been increasing since October 2023.
In addition, against the backdrop of fighting in the Kursk region, the price of a thousand cubic meters of fuel according to the Dutch hub TTF index exceeded $460. This is a record level since December 2023.
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