EGF Gazprom Monitor, Issue 130, March 2022

By Dr Jack Sharples, EGF Associate Researcher on the External Dimensions of Russian Gas and Research Fellow on the Natural Gas Research Programme, Oxford Institute for Energy Studies

Key points:

• Europe: New record spike European gas prices as Russian war against Ukraine continues; European Commission and International Energy Agency publish strategies for reducing European dependence on Russian gas; More LNG already arriving in Europe to fill the gap left by lower Russian pipeline supplies
  
• Nord Stream 2: Four of the five European "financial investors" in the Nord Stream 2 project announce intention to write off their loans to the project; Other shareholders in Nord Stream 1 also take steps to disassociate themselves from Russia; Reports on financial solvency of Nord Stream 2 AG
• Other: Foreign majors exiting Russian oil and gas sector