According to El Mundo, due to EU sanctions Russia is redirecting volumes of LNG that previously went to Europe to Asia. Europeans under long-term contracts took gas at €25–27 per MWh, and now the same volumes are sold about four times more expensive.

➖ Stocks in European underground storage facilities are the lowest since 2013: at the beginning of November they are filled only 73% (a year ago it was 82.8%).

➖ The heating season started with a record withdrawal: in the first 10 days almost 3 billion cubic meters were pumped out of the storages — this is 2.2 times more than the average figure for the last five years.

➖ Ahead — new restrictions: from January 2027 long-term contracts for LNG will also fall under the ban, and supplies via Turkish Stream will stop no later than November 2027.

➖ According to the ENTSOG forecast, even in the baseline scenario by the end of March stocks may fall to 29%, and in a cold winter — to 13%.

Paradoxically, even before the restrictions Europe was actively buying Russian LNG: only in the first half of the year 9.9 million tons left from Yamal LNG — this is a record. Now these volumes have to be replaced from the world market, where prices are dictated, among other things, by Asia.

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