Following the Ukraine war, Western Europe has aimed to reduce dependence on Russian gas
Europe has increasingly substituted pipeline gas with LNG delivered by ship
Private Russian producers and Gazprom are selling LNG at a discount to maintain market share
Spain, with its import terminals, now re-exports Russian gas to other European countries
The switch to LNG has a higher environmental cost due to gasification, shipping, and re-liquefaction
Delivery records mask the origin of LNG, making it difficult to track Russian gas
Independent traders sold Russian LNG in Spain at a discount, benefiting from lower prices
Previously east-to-west gas flow from Russia has reversed, with LNG landing in Western Europe
Despite efforts, the share of Russian gas in some European countries has grown due to LNG
EU grapples with a unified approach to banning Russian LNG infrastructure access