EU Proposes New Rules to Allow Halt of Remaining Russian Gas Imports
• EU countries may soon be able to halt remaining Russian gas imports under new rules to ban Russian energy companies from pipelines & terminals • Rules would allow EU import infrastructure owners to break contracts with Russian gas importers without penalties • EU still relies on Russia for 10% of its gas, imported as LNG; some member states like Austria & Hungary rely more heavily • EU entered winter with record high gas storage levels; new LNG sources expected in next 2 years to stabilize supply • HSBC forecasts falling European wholesale gas prices by 2026 as new US & Qatar LNG projects add supply