Commodities Buzz: Russias Natural Gas Pipeline Exports To Europe Drop To Four Decade Lows

10 Aug 2022 , 09:42 AM

Russias natural gas exports by pipeline to the European Union (EU) and the United Kingdom (UK) declined by almost 40% during the first seven months of 2022 compared with the same period in 2021 and by almost 50% compared with the previous five-year (2017-21) average, according to data from Refinitiv Eikon. In mid-July 2022, exports declined to 1.2 billion cubic feet per day (Bcf/d), the lowest level in nearly 40 years. Between 2016 and 2020, Russia had accounted for about one-third of the EUs and the UKs supply of natural gas via pipeline, according to EurostaPowered by Commodity Insights