Russia is expected to meet just 25% of EU gas demand this year, its lowest level in more than two decades, the International Energy Agency said July 5. In its latest quarterly gas market report, the IEA said that — assuming current flow patterns remain unchanged — EU imports of Russian pipeline gas were set to decline by over 45% this year to below 80 Bcm. In the medium term, the IEA said Russian gas was set to cover 20% of EU gas demand in 2025, with a total halt in Russian imports possible by 2027. The share of Russian gas — including LNG — in EU demand rose to as high as 47% in 2019, increasing the bloc’s dependence on imports from Russia. Since Moscow’s invasion of Ukraine in February, the EU has committed to phasing out Russian gas imports, which the IEA said was having global repercussions […]