Europe relies heavily on Russian gas
IEA underestimating Russian contractual expiry – Energy Aspects
Consultancy warns volumes that will go unrenewed this year are greater than Ten Point Plan assumes
A significantly greater scale of long-term Russian gas supply contracts will expire in 2022 compared with the calculations included by the IEA in its Ten Point Plan to reduce the EU’s reliance on its eastern neighbour, consultancy Energy Aspects cautions. The Paris-based agency suggests that import contracts with state-controlled Gazprom totalling more than 15bn m³/yr are set to expire by the end of 2022—equating to c.12pc of the firm’s 2021 EU deliveries—as part of close to 40bn m³/yr of agreements due to expire by the end of the decade. One of the IEA’s ten points is that these contracts should not be renewed. “We think it will be very difficult to renew these contracts given the current p
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
