OIES Podcast – Impact of Russia-Ukraine War on Energy Markets Series – 2

In this latest OIES podcast we continue our weekly updates of the impact of the war between Russia and Ukraine on energy markets. This week we review the significant increase in global LNG supply and its availability to the European market, while also considering the other sources of non-Russian supply. We also review the flows of Russian gas into the European market. Then we look at recent price volatility and consider the very different impacts of a full embargo on Russian imports versus an alternative strategy of using full nomination of contracted Russian gas as a means to loosen the market and reduce prices, and thereby revenues for Russia. Finally, we also consider the gas relationship between Russia and China and discuss whether much has changed in the short-term and whether the long-term prospects are for a more significant partnership.