Amid calls from some member states, the European Union should be careful in its efforts to ditch Russian LNG as it should protect its security of gas supply, the European Union Agency for the Cooperation of Energy Regulators, ACER, said in a report on Friday. The Baltic EU member states have been calling for a ban on the bloc’s imports of LNG, but the EU’s watchdog believes that any such move should only be gradual.
“Hence, reductions in Russian LNG imports should be approached with caution, particularly in light of the imminent expiration of the ship-or-pay transit contract for gas pipeline supply from Russia to Europe via Ukraine by the end of 2024.” The end of the pipeline shipment deal via Ukraine could lead to the EU losing 13.6 bcm of natural gas supply compared to the flows in 2023, according to ACER’s estimates.