In the first eight months of this year, the European Union reduced its gas imports by 1.7 times to 49.2 billion euros, mainly due to the decline in the manufacturing sector in Europe. From March 2022 to August of this year, industrial production in the Union declined by 21%.
The data indicated a decline in gas supplies from all major countries exporting blue fuel to Europe, as these supplies decreased from Qatar by 2.8 times, from the United Kingdom by 2.5 times, from Nigeria by about two times, from the United States by 1.8 times, and from Norway by 1.7 times. .
The data showed that gas supplies from Russia and Algeria to Europe declined at a slower rate compared to other exporting countries. Thanks to this, Russia and Algeria were able to increase their share in the European gas market, and Russia’s share rose by 4.6% to 18.3% of the total gas supplies to Europe, while Algeria’s share increased. By 4.9% to 21.3%.
According to the data, the United States still tops the list of major gas suppliers to the European Union, and its share this year amounts to 22%, after it was 22.9% last year.
The top five places on the list include Algeria, Russia and Norway, whose share this year reached 12.5%, after it was 12.3% a year ago. The list also includes the United Kingdom with a share of 8.4% compared to 12.5% a year ago.
The European industrial sector in general, and the German sector in particular, began to lose its competitive advantages in light of the abandonment of relatively cheap Russian energy sources.
Earlier, French President Emmanuel Macron called for action to increase the competitiveness of the European Union against the United States and China, otherwise the European economy would face the risk of “death” (extinction).
Source: RT + Novosti
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