Features / LNG

EU Seeks Alternative Gas Suppliers as Russia Asserts Its Rubles Payment Decision

Russian President, Vladimir Putin, signed a decree on television on March 31st, demanding natural gas to be paid in rubles, as Putin said that Russian gas buyers from "unfriendly" countries should pay in rubles from accounts in Russia starting from April 1st, or they would face the "consequences".

Understanding the European Natural Gas Market

European dependence on gas imports is only set to increase. Between 2007 and 2017, European natural gas production declined by 39.4%. Although European gas consumption is set to remain almost flat in the coming years, domestic production is expected to fall at an average rate of 3.5% per year.

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