What does a EU ban on Russian imports by 2023 mean for the global gas and LNG market?
With the pressure mounting on the EU to ban Russian gas, and with the recent restrictions of supplies by Gazprom, the future without Russian piped imports seems closer than ever. The recently announced REPowerEU measures are designed to help Europe end its decades-long dependency. In this analysis, we assume a ban on Russian piped gas imports into the EU by end-2023 and use our proprietary Global Gas Model Next Generation to understand the key implications on the global gas and LNG market over the next 10 years. We answer the following key questions: - How much LNG will Europe need to stop using Russian gas? - What is the role of REPowerEU? - What does this mean for LNG investments? - How will this impact Asian LNG demand? - What's the outlook for European gas prices?