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Viewpoint: Traders Help Russia Boost Its EU LNG Market Share

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Switzerland-based commodity trading houses have been one of the main beneficiaries of Russia’s plans to maintain its relevance in Europe’s energy mix by becoming one of the continent’s major suppliers of LNG. This has been done in parallel to Europe’s efforts to replace Russian pipeline imports, refill its underground storage tanks and avoid any pricing moves caused by Russian supply cuts. This diversification drive prompted trading firms to procure spot Russian LNG volumes and ship them to the continent’s largest LNG import capacity holder Spain, as Brussels failed to target Russian LNG imports as a response to Moscow’s war in Ukraine. The trend is expected to continue through 2023, prompting questions as to whether there should be a crackdown on this alternative revenue stream for the Kremlin’s war chest.

Topics:
LNG Supply, LNG Spot Trade, LNG Demand, LNG Prices, Gas Supply, Gas Demand, Gas Inventories, Gas Prices, Ukraine Crisis
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