Europe’s Shift from Russian Gas to Pricey LNG

July 12, 2024/in /by Rudolf Huber

One would expect a writer for oilprice.com with a decade of experience to be a little heavier on facts and a little less on narratives. How is gas priced in Europe? Exactly, it is a gas-to-gas market. This means there are gas hubs that establish prices according to market demand and supply. LNG has the option to move to the market that pays the highest price so it does. Pipes cannot do that once they are in the ground so they have to take what they get. Pipeline gas is not per se cheaper than LNG and LNG is not per se more expensive. LNG just has better options and it takes them. I don’t blame it. Europe needs to start looking for real options and stop the name-calling.

Europe's Shift from Russian Gas to Pricey LNG | OilPrice.com

Europe's switch from Russian pipeline gas to LNG has increased energy costs, despite claims of overcoming dependence without adverse effects.

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