Major Winners and Losers of Halting Russian Gas Transit Through Ukraine

The halting of Russia’s gas deliveries through Ukraine will increase the US share and reduce competition in the EU market.

The latest US LNG delivery amounts to 100 million cubic meters of gas (1 TWh of energy, or 3,530,000 MMBtu), bought by D.Trading, DTEK’s pan-European trading subsidiary. The shipment arrived at Greek LNG terminals such as Revithoussa, where it will be «re-gasified» and distributed «through EU and Ukrainian gas networks,» according to DTEK. One network, the Vertical Corridor, will transmit US LNG deliveries between Greece, Bulgaria, Romania, Hungary, Slovakia, Moldova, and Ukraine.

LNG from the US for Europe is at least 30-40% more expensive than pipeline gas from Russia.

In December 2022, the US became the world’s leading exporter of LNG amid Europe’s energy crisis and the sabotage attack on Russia’s Nord Stream pipelines.