IHS Markit: LNG Can Replace Ukraine Gas Flows To Europe

If the natural gas flows from Russia via Ukraine were to stop in an escalation of the Russia-Ukraine crisis, LNG imports would be enough to replace the flows to Europe via Ukraine, IHS Markit said in a report on Monday. Gas flows from Russia to Europe via Ukraine were already at historical lows in January, and if the remaining transit via Ukraine is shut off completely, it would have a relatively limited additional impact on European supply, the analytics company said. However, in an extreme—and according to IHS Markit, a highly unlikely—scenario…