Russia Remains Central to European Energy Security, Says IEA

Russia’s hydrocarbon exports to Europe remain the backbone of the European energy portfolio, said the International Energy Agency on Wednesday, adding that Ukraine’s role is gradually fading out. 

‘There has been no physical disruption in supplies of crude oil or natural gas transiting Ukraine to Europe. While the IEA Secretariat is constantly monitoring oil and gas markets, remains in communication with member countries and stands ready to respond in the event of a major supply disruption, the current situation to date does not call for an IEA response,’ reads a note released by the organization.

Imports from Russia to Europe in 2013 totalled 167.2 billion cubic meters, registering a 12% year-on-year increase. But the transit through Ukraine keeps decreasing as a percentage of the total imports.

The transit through Ukraine accounted for 64.99% in 2010, 63.38% in 2011, 53.31% in 2012 and 49.22% in 2013.

‘The southern leg of the Druzhba pipeline, Russia’s main artery for supplying crude oil to central Europe, runs through Northern Ukraine and has capacity of 400 kb/d but has been used at roughly three‐quarters capacity for the past several years. It is the largest source of crude oil supply for Slovakia, Hungary and the Czech Republic,’ explains the note.