The EU Has A Problem. They Cannot Secure Non-Russian Gas Supplies

The Gazprom Germania owned and operated Astora gas storage in Rehden, Germany Photo: REUTERS/SCANPIX 

OilPrice.com: The EU Has A Major Problem With Securing Non-Russian Gas 

* The EU is determined to wean itself off Russian gas, and its current replacement plan involves building new LNG terminals and importing gas from elsewhere. 

* This replacement plan has one major flaw, the LNG market is currently a seller's market and importers will have to commit to long-term contracts. 

* Germany’s struggle to negotiate deliveries of LNG with Qatar is just one example of this problem, and the EU will have to alter its priorities in order to secure the gas. 

Germany has been negotiating deliveries of liquefied natural gas with Qatar as part of plans to wean itself off Russian gas, on which it is heavily dependent. 

The negotiations, reportedly, ran into a wall this week. And this wall may be what’s standing in the way of other EU gas buyers as well. 

According to unnamed sources cited by Reuters, Germany and Qatar have serious differences on issues such as the length of the contract and whether or not Germany could re-sell the gas to other European countries once it had been received.  

Read more ....  

WNU Editor: I guess President Biden's commitment to assist the EU is going to fall short .... Biden and EU agree landmark gas deal to break Kremlin’s hold (The guardian).  

Update: The pressure is definitely growing .... Europe's gas supply crisis grows after Russia imposes sanctions (Reuters). 

The EU Cannot Secure Non-Russian Gas Supplies  

Europe is running out of time to find alternatives to Russian gas -- CNN  

Germany not ready for Russian gas embargo – official -- RT  

Factbox: How can Europe get gas if Russia's supply is disrupted? -- Reuters