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D.TRADING comments on evolving European gas supply dynamics

D.TRADING comments on evolving European gas supply dynamics

2026-05-21

D.TRADING’s Head of LNG, James O’Brien, commented on the evolving dynamics of the European gas market as the European Union moves toward phasing out Russian pipeline gas imports.

Speaking to Montel during the Flame conference in Amsterdam, O’Brien noted that the market is entering a period of significant adjustment as participants prepare for new regulatory and supply realities.

“There are a lot of different theories and hypotheses about what may happen,” O’Brien said. “The problem is, there are plenty of guys out there still looking for a cheap gas deal, and the Russians are prepared to give it to them.”

James O'Brien

Head of LNG at D.TRADING

He added that the market will need to pay close attention to physical gas flows and transparency mechanisms as Europe implements its phase-out plans.

Under current EU legislation, long-term Russian pipeline contracts are expected to be phased out from late 2027, accelerating Europe’s broader diversification efforts and increasing the importance of alternative supply routes and LNG imports.

D.TRADING continues to support the development of diversified gas and LNG supply chains across Central and Eastern Europe, helping strengthen regional energy resilience through transparent and market-based trading solutions.

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“If they really are stopping the Russian gas, we should see drops in the flows,” O’Brien said. “If we don’t see a drop in the flow, then you know where the gas is coming from.”

James O'Brien

Head of LNG at D.TRADING