EU boosts gas purchases from Russia

European countries reduced their gas consumption by 7% in July 2024.

However, despite this decrease, gas imports via pipelines increased by 2%, reaching 13.3 billion cubic meters, Caliber.Az reports, citing a report from the Gas Exporting Countries Forum (GECF).

Since the beginning of 2024, Russian gas imports to the EU have risen by 3.1 billion cubic meters. During the first half of the year, pipeline deliveries amounted to 93 billion cubic meters, which is 5% higher than the same period last year.

The report suggests that this growth may be attributed to increased supplies from Russia, Azerbaijan, and Norway.

During the same period, gas consumption in the European Union decreased by 4.5%, totalling 180 billion cubic meters. Experts attribute this decline to the implementation of measures for electricity generation from alternative sources, as well as the high levels of gas storage.

The report also highlights changes in demand for gas in specific European countries in July. In Germany, demand increased by 3.9% to 3.5 billion cubic meters. In contrast, Italy saw a decrease of 5.5% to 4.2 billion cubic meters, while France and the United Kingdom experienced declines of 6.7% to 1.3 billion cubic meters and 1.2% to 2.7 billion cubic meters, respectively.