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This year, the import of Russian liquefied natural gas (LNG) to the EU reached a record level, despite the bloc’s efforts to reduce dependence on gas from this country following Moscow’s full-scale war against Ukraine.
This was reported by the Financial Times.
As of mid-December, Europe had imported a record 16.5 million tons of Russian liquefied gas, surpassing last year’s import of 15.18 million tons, according to data from the commodity data provider Kpler.
This figure also exceeds the previous record of 15.21 million tons imported in 2022.
“What we’ve seen this year is surprising. Instead of gradually reducing imports of Russian LNG, we are increasing them,” said Ana Maria Jaller-Makarewicz, an analyst at the Institute for Energy Economics and Financial Analysis.
After Russia’s full-scale invasion of Ukraine in 2022, the EU set a goal to cease importing any Russian fossil fuels by 2027. However, supplies of supercooled gas arriving at European ports continue to grow.
Unlike pipeline gas imports, which have fallen to a minimum, and Russian oil and coal, which are banned in the EU, imports of Russian LNG remain permitted and are increasing. This indicates that “a panicking” Europe is still struggling to wean itself off cheap supplies, noted Jaller-Makarewicz.
LNG supplied from Russia’s Yamal terminal to Europe is “significantly cheaper” than gas imported from the United States.
Previously, Europe imported about two-fifths of its gas from Russia, most of it via pipelines. Currently, the total gas imports from Russia, including pipeline gas, account for only about 16% of the total gas supplies to the EU.
EU officials insist that the bloc does not need Russian fuel, even if it means accepting higher prices to purchase gas elsewhere. However, Russian LNG accounted for 20% of total maritime fuel imports to the EU this year, compared to 15% last year, according to ship-tracking data.
Not all Russian LNG brought to Europe is consumed in the region; some of it is reloaded and sent to other parts of the world. This year, supplies to France have sharply increased, nearly doubling compared to 2023. According to Kpler, more than half of these supplies went to the import terminal in Dunkirk. French energy companies EDF and TotalEnergies, as well as the German state energy company Sefe, have agreements to use the terminal.
Belgium was the second-largest importer of Russian LNG, as its port of Zeebrugge is one of the few European transshipment points for LNG from ice-class tankers used in the far north to conventional cargo ships. EU governments have agreed to ban such transshipments of Russian LNG from Yamal to non-EU countries, a measure set to take effect in March 2025.
It is worth noting that ten EU member states have proposed strengthening sanctions against Russia’s energy sector, particularly liquefied natural gas, and institutions that help Moscow circumvent existing restrictions.
Recall that on December 16, the EU Council adopted the 15th package of sanctions against Russia aimed at countering sanctions circumvention by targeting Russia’s “shadow fleet” and weakening its military-industrial complex.
In early 2025, the EU is set to begin discussions on the 16th sanctions package, which will coincide with Poland’s presidency of the EU Council.
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