Where Can The EU Go For Gas?

Other countries especially in Southern Europe, are already employing this method.

In 2020, the latest year where data is available, Portugal imported 56% of its gas from Nigeria and 17% from the U.S, while Spain bought more than 35% of its gas as LNG. Italy and Greece also sourced some gas in the U.S. and Qatar in 2020.

An LNG terminal in Klaipedia, Lithuania, has taken up work in creating some energy independence in the Baltics, Finland and soon, Poland.

Currently, almost 75%  of EU supply (EU-27 and UK) arrives on the continent by pipeline, according to the U.S. Energy Information Administration.

Besides Russia, Norway and Algeria also pipe large volumes to Europe, but do not really have any additional production capacity to avoid a shortage in the event of a cutoff by Russia.

According to calculations by the Economic Institute of Kiel, a complete end of natural gas sales to the West would actually constitute a painful event for the Russian economy, cutting out almost 3 percent from the country’s GDP.

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