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Russia’s Arctic gas plan project has been plagued by delays (Photo: Manuel Ernst - NASA Earth Observatory)

Price-cap could slash 60 percent of Russian LNG earnings: report

Despite efforts by the EU to cut off Russian gas supply following the 2022 invasion of Ukraine, Russia remains heavily reliant on Europe and wealthy G7 countries for its overseas gas exports.

In 2023, half of all Russian liquefied natural gas (LNG) exports, worth €8.2bn, were directed to the EU market, as revealed in a report by the not-for-profit Centre for Research on Energy and Clean Air (CREA) published on Thursday (11 April).

Russian LNG represents only a small fraction of ...

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

Russia’s Arctic gas plan project has been plagued by delays (Photo: Manuel Ernst - NASA Earth Observatory)

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

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