OPINION: The European Union’s seismic announcement last week that it will wean itself off Russian gas supplies “well before” 2030 has created a huge opportunity for natural gas players elsewhere in the world.

Russia currently supplies about 41%, or 155 billion cubic metres per annum, of the bloc’s gas imports — not to mention 27% and 47% of its oil and coal imports.

The second and third biggest gas suppliers are Norway, with 16%, and Algeria, with 8%, while Qatar provides a further 5% via liquefied natural gas shipments.