Russia Reclaims Its Position as Europe's Top Gas Supplier

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Europe's efforts to reduce dependence on Russian gas face a setback as Russia retakes the lead in supplying gas to the region, highlighting the challenges of diversifying energy sources amid geopolitical tensions.

According to some of the more cynical elements out there, the entire Ukraine war as orchestrated by Victoria Nuland and various energy-tied elements in the deep state, was meant to do one thing replace Russia with the US as the primary supplier of European gas and the recent sabotage of the Nord Stream pipeline, only seems to validate this particular 'conspiracy theory.

As the FT notes, Russia stopped sending gas through pipelines connecting it to northwest Europe in mid-2022 but continues to provide supplies via pipelines through Ukraine and Turkey. Flows in May were affected by one-time factors, including an outage at a major US LNG export facility, while Russia sent more gas through Turkey ahead of planned maintenance in June. Demand for gas in Europe also remains relatively weak, with storage levels near record highs for this time of year.

 

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