Despite the European Union’s efforts to lessen its reliance on Russian energy, 2024 has seen a significant surge in the import of liquefied natural gas (LNG) from Russia, reaching a record high.
As of mid-December, the EU imported 16.5 million tons of Russian LNG, surpassing the previous year’s import of 15.18 million tons, according to data from raw materials data provider Kpler. This marks a new high, exceeding the 2022 record of 15.21 million tons.
In 2022, the EU committed to halting all Russian fossil fuel imports by 2027, yet LNG deliveries continue to rise. While pipeline gas imports have plummeted and Russian oil and coal are banned, Russian LNG remains a key source. Yaller-Makarevich suggested that “panicking” Europe is still struggling to wean itself off affordable Russian gas supplies.
The LNG coming from Russia’s Yamal terminal is significantly cheaper than gas from the United States.
In the past, the EU sourced nearly two-fifths of its gas from Russia, primarily via pipelines. Now, Russian gas accounts for only about 16% of the EU’s total gas supply. Not all of the Russian LNG imported by the EU is consumed domestically; some is transshipped to other parts of the world. Shipments to France have notably increased, nearly doubling from 2023 levels. According to Kpler, more than half of this LNG has been sent to the Dunkirk import terminal, which is operated by French energy companies EDF and TotalEnergies, along with Germany’s state-owned energy company Sefe.
Belgium ranks as the second-largest importer of Russian LNG, with the Zeebrugge port acting as a key transshipment point for LNG from ice-class tankers traveling from the far north. The EU has already agreed to ban the transshipment of Russian LNG from Yamal to non-EU countries, with this restriction set to take effect in March 2025.
