IEA underestimating Russian contractual expiry – Energy Aspects

Consultancy warns volumes that will go unrenewed this year are greater than Ten Point Plan assumes

A significantly greater scale of long-term Russian gas supply contracts will expire in 2022 compared with the calculations included by the IEA in its Ten Point Plan to reduce the EU’s reliance on its eastern neighbour, consultancy Energy Aspects cautions. The Paris-based agency suggests that import contracts with state-controlled Gazprom totalling more than 15bn m³/yr are set to expire by the end of 2022—equating to c.12pc of the firm’s 2021 EU deliveries—as part of close to 40bn m³/yr of agreements due to expire by the end of the decade. One of the IEA’s ten points is that these contracts should not be renewed. “We think it will be very difficult to renew these contracts given the current p