The European Commission is discussing the introduction of an import quota of zero for Russian gas, according to people with knowledge of the matter.

With prices linked to Henry Hub, market sources suggested that the cargoes are likely coming from the US. This is likely the first US LNG SPA signed by a Chinese company since the announcement of China's tariffs on US LNG.

Turkey has discovered 75 billion cubic meters of natural gas worth $30 billion dollars in the Black Sea, according to President Recep Tayyip Erdogan.

Then the ACCC weighed in again in late March, warning, ‘the east coast outlook for Quarter 3 2025 has worsened. The market will need access to LNG producers’ uncontracted gas to mitigate the risk of shortfall’.

Rising domestic demand, hot summers and rapidly deteriorating local production mean Egypt needs to buy increasing volumes of LNG.

"Despite the significant progress achieved under the REPowerEU Plan and via sanctions since Russia's invasion of Ukraine, in 2024 the EU saw a rebound in Russian gas imports," the EC said. "More coordinated actions are therefore needed, as the EU's overdependency on Russian energy imports is a security threat."

Russia currently delivers gas to China via the Power of Siberia 1 pipeline, which is part of a US$400 billion, 30-year agreement between Gazprom and China’s CNPC which was signed in 2014.

Gas plays a crucial role in the energy transition by replacing higher-carbon energy sources and as a partner to renewable energy.

Overall delivery of US LNG shipments in the first quarter of 2025 fell by 70%, according to Chinese official custom data released on Sunday.

The potential for a ‘rebound’ or ‘return’ of Russian pipeline gas supplies to the European market has gained significant traction in the mainstream media