This brings an immediate threat to Europe. As the Russia-Ukraine crisis unfolds, the massive gas imports route via Ukrainian trunk pipelines may stop at any point. That’s according to GlobalData’s senior oil and gas analyst Veronika Kustkova, who warned that this brings an immediate threat to Europe while withdrawals from gas storages continue to rise. Kustkova added, however, that it is doubtful these gas storages will reach 2018 historical lows. “European demand for gas has increased since 2020 and is expected to stay at the same level in the short term, placing Europe in an uncomfortable position as Qatar has already declared they will not be able to fulfil the supply shortage,” Kustkova said in a statement sent to Rigzone. “According to Eurostat and GlobalData analysis, Russian imports made up 45 percent of EU imports in the first 10 months of 2021. Similarly, Russian gas exports are reliant on […]