EU Chief Mentions Possibility of Natural Gas Contracted with Korea and Japan Being Sent to Europe

[Asia Economy Reporter Lim Chun-han] As the European Union (EU) faces an emergency in securing natural gas, Russian media reported that the EU side mentioned the possibility of sending the volumes contracted by Korea and Japan to Europe.

According to Russia's Sputnik News Agency, Ursula von der Leyen, President of the European Commission, stated this on the second day of the Munich Security Conference held in Munich, Germany, on the 19th (local time).

President von der Leyen said, "We will be able to secure liquefied natural gas (LNG) volumes from allies around the world to replace Russian gas." She added, "We are also receiving support from buyers who are willing to swap (exchange) their LNG import contracts with us, like Korea and Japan, and redirect LNG carriers to the EU."

This statement came amid concerns that if the West sanctions Russia following its invasion of Ukraine, Russia might weaponize its natural gas exports by cutting supplies to Europe. Europe currently imports about 40% of its gas demand from Russia, and demand is high due to winter heating needs.

According to major foreign media, earlier this month the EU discussed the possibility of long-term gas contracts in swap form with Asian countries, and the United States also explored support intentions by meeting with natural gas importers such as Korea and Japan. However, while Japan decided to supply some LNG to Europe, Korea reportedly conveyed that it would be practically difficult due to domestic supply and demand conditions.

This content was produced with the assistance of AI translation services.