US, Russia Discuss Restoring Russian Gas to Europe as Gazprom Faces $7 Billion Loss and EU Debates Ban

12 posts • GPT (4.1)

Updated May 8, 2025, 08:20 PM

The United States and Russia are engaged in discussions about the potential restoration of Russian natural gas flows to Europe, according to multiple sources and reports. These talks are occurring despite the European Union's stated goal to ban all Russian gas imports by 2027. The discussions reportedly form part of broader peace negotiations related to the conflict in Ukraine. American and Russian officials, including U.S. envoy Steve Whitkoff and Russian investment envoy Kirill Dmitriev, have held talks on mechanisms that could facilitate renewed gas sales to Europe, such as possible U.S. investor participation in the Nord Stream pipeline, the pipeline crossing Ukraine, or Gazprom itself. U.S. companies could also act as buyers, purchasing gas from Gazprom and reselling it to Europe. Russia currently supplies 19% of Europe's gas demand, down from 40% before the Ukraine conflict, mainly through liquefied natural gas and the TurkStream pipeline. Gazprom posted a $7 billion loss in 2023 and is reportedly considering offering European customers short-term 24-month contracts and significant price discounts to revive sales. The European Commission, led by Ursula von der Leyen, remains opposed to resuming Russian gas imports, calling such a move a 'historic mistake.' The EU is set to discuss a proposal to ban new Russian gas deals by the end of 2025 and phase out existing contracts by 2027, though some member states, including Hungary and Slovakia, have expressed reservations. In parallel, Russia and China are resuming talks on the Power of Siberia 2 gas pipeline, which would allow Russia to supply an additional 50 billion cubic meters of gas per year to China, further deepening their energy ties as Moscow seeks alternatives to the European market. The U.S. and Ukraine have also signed a minerals agreement covering all Ukrainian government-owned natural resource assets and infrastructure.

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Sources

reuters.com(3)liberal.gr zerohedge.com ebx.sh

OilPrice.com

@OilandEnergy

Reuters: U.S. & Russian officials are quietly exploring ways to restore Russian gas flows to Europe—despite EU vows to ban all Russian gas by 2027. Energy pragmatism may be returning as inflation and LNG costs bite. #Gazprom #EUenergy #Geopolitics #NaturalGas