5 days ago
EU's top Russian LNG buyers refuse to back Brussels' gas ban
BRUSSELS — The European Union's two biggest buyers of Russian liquefied natural gas are refusing to endorse Brussels' plan to ban Moscow's gas, arguing they need more reassurances on the economic and legal consequences of the move before making a decision.
France, the bloc's top buyer, told POLITICO it prefers a strategy of hunting for alternative supplies. Belgium, in second place, wants a report detailing the economic fallout before making a decision.
'What we're defending is a European strategy of diversification … which is already on the table,' French Energy Minister Marc Ferracci told POLITICO, referencing France's plan to replace Russian supplies with Qatari products.
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The hesitation runs counter to the EU's other major Russian LNG importers: Spain and the Netherlands. Both told POLITICO they are eager to back the upcoming legislation, which would end Russian gas contracts, banning short-term purchases this year and long-term contracts by 2027. In theory, that would help the countries escape contracts which will otherwise will keep them buying Russian LNG for years.
