[ad_1]
The UK has banned Russian LNG imports in a step that took impact Jan. 1.
The UK joins Estonia, Latvia and Lithuania as the one European nations to formally ban Russian liquefied pure fuel imports.
“In gentle of Putin’s unlawful invasion of Ukraine and weaponization of vitality, the federal government has taken steps to finish all imports of Russian fossil fuels, together with ending all imports of Russian LNG,” a spokesperson from the UK’s Division for Enterprise, Vitality and Industrial Technique informed NGI.
[Want to know how global LNG demand impacts North American fundamentals? To find out, subscribe to LNG Insight.]
Final yr, UK imports of Russian LNG fell 85% in comparison with 2021. In 2021, Russia equipped 4% of the UK’s pure fuel, 9% of its oil, and 27% of its coal, value about $5.4 billion, in keeping with the Overseas, Commonwealth and Growth Workplace.
Information from UK commerce statistics exhibits within the seven months following Russia’s invasion of Ukraine in February 2022, the UK imported $2.37 million value of oil from Russia, however no coal or fuel.
Russian LNG exports to different European nations have continued, notably to France. LNG exports from PAO Novatek’s Yamal LNG facility to France elevated to five.25 million tons (Mt) final yr, in comparison with 3.79 Mt in 2021, in keeping with information from Kpler.
UK utility Nationwide Grid plc warned in October of rolling blackouts if excessive chilly climate and fuel shortages mixed to restrict energy era. Regardless of two weeks of chilly climate in December, the UK met energy demand from wind energy, French electrical energy imports and rising output from gas-fired vegetation.
Nationwide Grid stated in its newest electrical energy era combine evaluation for 2022 that though renewable energy sources are on the rise, fuel was the highest gasoline final yr for energy era at 38.5%, adopted by wind energy at 26.8% and nuclear at 15.5%
Though a 20-year fuel provide deal between Equinor and the UK authorities fell aside final month as Norway’s asking value was thought of too excessive, one other deal was reached with the U.S. authorities to export as much as 353 Bcf of fuel to the UK for 2023.
“This US/UK partnership will carry down costs for British shoppers and assist finish Europe’s dependence on Russian vitality as soon as and for all,” UK Prime Minister Rishi Sunak stated final month.
The UK authorities can be going through authorized challenges over its latest home oil and fuel growth plans to extend home fuel provide. Environmental teams oppose the federal government’s plans to award 130 new North Sea oil and fuel licenses later this yr.
“Britain will proceed to want to entry fossil gasoline provides throughout its net-zero transition…” UK Environmental Audit Committee Chairman Philip Dunne stated in help of the most recent oil and fuel licensing spherical.
[ad_2]
Source_link
