Natural gas imports via pipeline to European Union (EU) countries in the first quarter of the year increased 5% year on year to 40 billion cubic meters, and gas imports from Russia rose 23% to more than 7 billion cubic meters.
According to the latest report from the Gas Exporting Countries Forum (GECF), EU countries imported 14 billion cubic meters of natural gas through pipelines in March, marking a 12% monthly increase and a 4% jump compared to the same month last year.
The GECF report showed a 5% increase to 40 billion cubic meters of piped natural gas volumes to the EU in the first quarter of the year compared to the same period last year.
Compared to the first quarter of 2023, the volume of natural gas via pipeline from Russia to the EU in the first quarter of this year increased by 23% to more than 7 billion cubic meters.
This March saw the highest monthly level of piped gas imports to the EU since December 2022. EU imports rose 4% compared to the same month last year.
In the first three months of this year, Norway was the largest exporter of piped gas to the EU with a 57% share, followed by Russia with 18% and Algeria with 17%.
Türkiye facilitated the delivery of 53% of the gas sent from Russia to the EU.
– Russia-Ukraine transit agreement expires
The current transit agreement between Russia’s Gazprom and Ukraine’s Naftogaz expires at the end of 2024. Ukraine has signaled its reluctance to extend the contract for political reasons.
Currently, about half of Russia’s pipeline gas exports to Europe are transported through Ukraine’s transmission system.
In the second half of last year, 48% of Russian gas to Europe was delivered through Ukraine and 52% through the TurkStream pipeline.
The Bulgarian section of the TurkStream pipeline, which has an annual capacity of 15.75 billion cubic meters, is expected to be the only available route for direct gas transfers to the West without the route through Ukraine’s territory.
