US and Russia discuss restarting gas flows to EU – Reuters

Bilateral talks to end the Ukraine conflict reportedly touched on resuming Russian energy exports to the bloc

Moscow and Washington have held discussions about resuming Russian natural gas exports to the EU, Reuters reported on Thursday, citing eight anonymous sources. The talks are reportedly part of broader efforts to end the Ukraine conflict.

The supply of Russian gas to the EU slowed dramatically three years ago, hit by sanctions related to the conflict and following the sabotage of the Nord Stream pipelines. Russia’s 40% share of European gas imports has fallen to 19%, currently consisting mainly of liquefied natural gas (LNG), with some supplies provided via the TurkStream pipeline.

According to the news agency’s sources, the discussions touched on US firms buying stakes in Russian energy giant Gazprom or in existing pipeline infrastructure in Ukraine. American companies could also serve as buyers, purchasing gas from Russia and selling it on to Europe to bypass political opposition, Reuters cited several sources as saying.

Speaking in Brussels on Thursday, European Commission President Ursula von der Leyen called the prospect of restoring Russian gas supplies a “mistake of historic dimensions” and stressed that “we would never let it happen.”

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Putin and Xi make progress on key gas pipeline – deputy PM

Kremlin spokesman Dmitry Peskov has noted that Moscow is ready to negotiate restarting gas exports to the continent. “We know that some countries in Europe want to continue buying it from us,” he told Le Point in an interview last month.

Russia has been seeking to diversify its energy export markets against the backdrop of Western sanctions and flagging European demand.

Russian Deputy Prime Minister Aleksandr Novak announced on Thursday that Moscow and Beijing have agreed to speed up work on the Power of Siberia 2 gas pipeline project. The conduit will allow Russia to export up to 50 billion cubic meters (bcm) of natural gas to China annually.

“The final negotiations... regarding economic conditions are now underway,” he said.

In addition to the Power of Siberia 2, Russia is looking into building an additional pipeline going through neighboring Kazakhstan, which combined would provide China with up to 100 bcm of gas annually.