US, Russia talk about beginning again gas flows to EU

(MENAFN) The United States and Russia have engaged in behind-the-scenes discussions about restarting Russian natural gas exports to the European Union, according to a Thursday report by Reuters citing eight unnamed sources. The talks are said to be part of a broader diplomatic push to resolve the conflict in Ukraine.

Russian gas exports to Europe plummeted following Western sanctions and the 2022 sabotage of the Nord Stream pipelines. Once accounting for 40% of EU gas imports, Russia’s share has since dropped to 19%, with most current deliveries coming through liquefied natural gas (LNG) shipments and the TurkStream pipeline.

Sources told Reuters the talks included ideas such as US companies acquiring stakes in Russian energy firm Gazprom or in Ukraine’s gas infrastructure. Another possibility raised was that American firms could buy Russian gas and resell it to Europe, sidestepping direct political constraints.

However, European Commission President Ursula von der Leyen firmly opposed the idea, calling any return to Russian gas “a historic mistake” and promising that the EU “would never let it happen.”

Kremlin spokesperson Dmitry Peskov recently stated that Russia is open to restarting gas flows, noting that some European nations are still interested in buying from Moscow.

Amid shrinking demand from Europe and sanctions, Russia is accelerating its pivot to Asian markets. Deputy Prime Minister Aleksandr Novak announced progress with China on the Power of Siberia 2 pipeline, which will deliver up to 50 billion cubic meters (bcm) of gas annually. An additional route through Kazakhstan could raise total exports to China to 100 bcm annually.

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