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Russia’s natural gas flow to Europe is on the rise despite Russian attacks on Ukraine, according to data compiled by Anadolu Agency on Wednesday.
Gas exports of Russian energy giant Gazprom to the EU via Ukraine stood at 109 million cubic meters per day on Dec. 1 last year but retreated to 74.4 million cubic meters on Jan. 1.
However, exports surged again on Feb. 24 when Russia started to attack Ukraine, the data shows. While Gazprom exported 62 million cubic meters of gas on Feb. 23 via Ukraine, this volume rose to 110 million cubic meters on Feb. 25 and 109 million cubic meters on Feb. 26.
Gazprom’s gas transmission to the EU via Ukraine runs at an average of 100 million cubic meters per day, Gazprom spokesman Sergey Kupriyanov said in a statement on Feb. 28.
Europe’s high dependence on Russian gas
Europe meets almost 40% of its gas demand from Russia, corresponding to nearly 175 billion cubic meters in total. According to Gazprom data, the company’s exports to Europe via Ukraine stood at 42 billion cubic meters last year.
The Russian attacks on Ukraine and the implementation of a range of economic sanctions against Russia by European countries have fueled concerns of damage to pipeline infrastructure in Ukraine, and a fall in Gazprom’s gas flow.
Natural gas trading on the TTF – the Netherlands-based virtual natural gas trading point for March contracts saw a 50% increase on Wednesday to almost €200 per megawatt-hours as Russian attacks on Ukraine intensified.
Main oil supplier of Europe is also Russia
Russia is also Europe’s biggest oil supplier, having exported 113 million tonnes of oil in 2020, out of the continent’s total oil imports of 440 million tonnes.
However, European officials have so far refrained from putting restrictions on energy imports from Russia in response to its actions.
While British Foreign Secretary Liz Truss suggested G7 countries restrict natural gas and oil imports from Russia, the only country to do so by halting oil imports from Russia was Canada.
Since Russia’s war on Ukraine began last Thursday, it has been met by outrage from the international community, with the EU, UK, and US implementing a range of economic sanctions on Russia.
So far, at least 136 civilians, including 13 children, have been killed in Ukraine and 400 others, including 26 children, have been injured, according to UN figures.
New sanctions imposed by the US, UK, and the European Union are targeting some names close to Russia’s president and banks following Moscow’s decision to officially recognize the so-called administrations of two separatist regions in eastern Ukraine.
While the activities of some Russian banks in international markets were restricted with sanctions, some Russian “oligarchs” who are known to be close to Vladimir Putin were also targeted.
UK sanctions against Russia involve Rossiya Bank, IS Bank, General Bank, and Black Sea Bank as well as oligarchs Gennady Timchenko, Igor Rotenberg, and Boris Rotenberg.
