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European Commission: European gas markets

The European Commission’s quarterly report on European gas markets highlights how net gas imports increased by 8 per cent year-on-year in the fourth quarter, but the overall gas import bill fell significantly (29 per cent) because prices were down by 36 per cent.

For the first time, in the final quarter of 2019, LNG became the second source of gas to the EU, covering 28 per cent of the total imports and surpassing the share of Norway. In December 2019, after several rounds of negotiations, the EU, Ukraine and Russia managed to reach an agreement on the future of gas imports of Russian origin through Ukraine, and later in that month Ukraine and Russia concluded a package of agreements, amongst others on transit volumes through Ukraine for 2020-2024.

Read the full report here.

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