In 2024, the European Union’s imports of Russian liquefied natural gas (LNG) surged by 18%, with Moscow earning at least €6.3 billion from LNG exports to Europe between January and November.
These figures, published on Tuesday, February 18, come from the U.S.-based Institute for Energy Economics and Financial Analysis (IEEFA).
France, Spain, and Belgium remain the EU’s top importers of Russian LNG, collectively accounting for 85% of total shipments. The LNG terminal in Dunkirk, France, played a key role, receiving 27% of all Russian LNG deliveries to Europe last year.
IEEFA expert Ana Maria Jaller-Makarewicz highlighted that not all of this gas is used domestically in France. “Instead, the LNG is regasified (converted back into a gaseous state) and then transported via pipelines or sold to other countries, including Germany,” she explained. Despite having its own LNG terminals, Germany continues to receive Russian LNG through this process.
According to IEEFA calculations, Russian LNG makes up a third of France’s total LNG imports. The country’s other major suppliers include the U.S., which also accounts for a third of total LNG imports, and Algeria, supplying 17%.
This trend is not new. In 2023, France, Spain, and Belgium collectively made up 80% of Europe’s Russian LNG imports.
Jaller-Makarewicz warned that the steady growth of Russian LNG purchases presents a significant challenge to the European Commission’s goal of eliminating Russian gas imports entirely by 2027.
