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2026-10-01T14:13:02.000Z

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Ronaldo's Brand Worth €850M Impact on Portugal Team

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Egypt US dollar rates update October 1

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Europe's response to Nord Stream gas loss

After the Nord Stream pipeline explosions in September 2022, Europe successfully closed the gap in Russian gas imports, which had exceeded 114 billion cubic meters, by significantly diversifying its supply sources. Europe shifted from reliance on Russian gas—reducing its share from 45% to about 12% of total imports by 2025—to relying on alternative sources such as Norway and the United States (accounting for 26.2% of imports), as well as Azerbaijan and Qatar. It also increased dependence on liquefied natural gas (LNG), which made up 45% of its imports in 2025, by expanding terminal capacities and rerouting shipments to reduce demand for pipeline gas. As a result, gas consumption decreased by more than 19% between 2021 and 2024, despite a slight increase in demand in 2025. Although Europe succeeded in reducing its dependence on Russia, it still partially relies on gas imports, with a plan to phase out dependence on Russian LNG by 2027. However, potential challenges remain, including global gas shipment disruptions—particularly given fluctuating storage levels and preparations for the upcoming winter.

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