EU Speaks with US, Qatar, Egypt as Alternatives for Russian Gas

A view shows gas wells at Bovanenkovo gas field owned by Gazprom on the Arctic Yamal peninsula, Russia May 21, 2019. REUTERS/Maxim Shemetov
A view shows gas wells at Bovanenkovo gas field owned by Gazprom on the Arctic Yamal peninsula, Russia May 21, 2019. REUTERS/Maxim Shemetov
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EU Speaks with US, Qatar, Egypt as Alternatives for Russian Gas

A view shows gas wells at Bovanenkovo gas field owned by Gazprom on the Arctic Yamal peninsula, Russia May 21, 2019. REUTERS/Maxim Shemetov
A view shows gas wells at Bovanenkovo gas field owned by Gazprom on the Arctic Yamal peninsula, Russia May 21, 2019. REUTERS/Maxim Shemetov

The European Union would be able to cope with a partial disruption to gas imports from Russia, European Commission President Ursula von der Leyen said, adding that the EU has spoken with several countries, including the US, Qatar and Egypt about increasing gas and liquefied natural gas (LNG) deliveries.

Escalating tensions with Russia over Ukraine have raised concerns about Russian gas flows to Europe, prompting the EU to review its contingency plans for supply shocks, and EU and US officials to seek alternative supplies.

The EU has spoken with the United States, Qatar, Egypt, Azerbaijan, Nigeria and South Korea about increasing gas and liquefied natural gas (LNG) deliveries, either through additional shipments or contract swaps, von der Leyen told reporters in Strasbourg.

Russia supplies about 40% of Europe's natural gas. Gas prices soared in Europe as tight supply collided with high demand in economies emerging from the COVID-19 pandemic last year, and amid lower than expected imports from Russia.

"We have also spoken to major suppliers of LNG... in order to ask whether we could swap contracts in favor of the EU," she said, adding that Japan was willing to do this.

"These efforts are now distinctly paying off."

Japan last week said it would divert some LNG cargoes to Europe, in response to EU and US requests.

European LNG imports hit a record high of around 11 bcm in January, with just under half coming from the United States.



Tunisia Gets Offers in 75,000 T Soft Wheat Tender, Traders Say

Agricultural labourers harvest the wheat crop at Chadiala village in the northern Indian state of Punjab April 10, 2008. REUTERS/Ajay Verma (INDIA)
Agricultural labourers harvest the wheat crop at Chadiala village in the northern Indian state of Punjab April 10, 2008. REUTERS/Ajay Verma (INDIA)
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Tunisia Gets Offers in 75,000 T Soft Wheat Tender, Traders Say

Agricultural labourers harvest the wheat crop at Chadiala village in the northern Indian state of Punjab April 10, 2008. REUTERS/Ajay Verma (INDIA)
Agricultural labourers harvest the wheat crop at Chadiala village in the northern Indian state of Punjab April 10, 2008. REUTERS/Ajay Verma (INDIA)

The lowest price offered in the international tender from Tunisia's state grains agency on Thursday to purchase about 75,000 metric tons of soft wheat was believed to be $262.91 a ton cost and freight (c&f) included, European traders said.

Offers are still being considered and no purchase has yet been reported. The lowest offer is not always accepted if conditions attached to it are regarded as unattractive, Reuters reported.

The lowest offer was believed to have been submitted for optional-origin wheat by trading house Cargill for 25,000 tons, they said.

Cargill also made the next lowest offer of $263.91 also for 25,000 tons, they said.

Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.

Shipment was requested between May 20 and June 30 depending on origin supplied.