In 2021, Europe imported 155 billion cubic metres of natural gas from Russia, almost 40% of its total gas consumption. However, since it invaded Ukraine in early 2022, Russia has reduced its natural gas exports to Europe and indefinitely shut down the Nord Stream 1 pipeline.
Therefore, Europe is trying to wean itself off Russian natural gas. One way it is doing so is by buying more LNG from other producers. However, there is a significant issue. While there is enough LNG on the market, regasification terminals in Europe can only regasify around half of the natural gas the continent needs.
How can Europe reduce its reliance on Russian gas in the short term without risking the safety of existing regasification plants through overuse? How can the continent increase natural gas production without compromising its long-term net-zero ambitions?
Discover more from our one-pager on this matter, which goes over our project with Adriatic LNG and COSMI. If you want to learn more, watch our webinar with Adriatic LNG and Bureau Veritas.
