EU expenditure on Russian LNG imports increases fourfold, according to data
Rising energy prices have significantly increased the worth of Russian liquefied natural gas imports for the EU, as reported by Eurostat. Read Full Article at RT.com
TroibNews 
According to Eurostat, the cost of liquefied natural gas (LNG) purchases from Russia for the EU has risen dramatically over the past three years, nearly quadrupling due to rising prices and increased import volumes.
A report released on Monday titled ‘EU trade with Russia’ indicates that in the fourth quarter of 2024, the volume of LNG imported from Russia was 18% higher than in the first quarter of 2021. During the same timeframe, the value of these imports skyrocketed by 274% as a result of the energy crisis.
European gas prices saw significant increases following the escalation of the Ukraine conflict in 2022, coupled with the EU’s commitment to reduce dependence on Russian energy. Although pipeline gas imports from Russia have largely stopped due to sanctions and the sabotage of the Nord Stream pipelines, EU countries have continued to purchase record amounts of LNG from Russia.
Eurostat’s data shows that Russia’s share of the EU’s LNG imports rose from 11% in Q4 2022 to 22% in the final quarter of 2024. Meanwhile, the United States remained the bloc’s leading supplier, making up 36% of its total LNG imports.
In June, Brussels targeted Russian LNG for the first time by banning re-loading operations, ship-to-ship transfers, and ship-to-shore transfers intended for re-export to third countries via the EU. This ban included a nine-month transition period.
On Monday, the EU introduced its 16th package of sanctions, which further tightened restrictions on Russian energy. However, the bloc refrained from implementing a complete ban on Russia’s LNG.
According to analytics firm Kpler, the imports of Russian LNG by EU member states have reached an all-time high, with the bloc increasing its imports of super-chilled fuel following Ukraine’s suspension of pipeline gas transit through its territory.
Ukraine chose not to extend a five-year transit contract with Russia’s Gazprom at the end of 2024, effectively cutting off several EU countries from Russian pipeline gas. At present, the only remaining Russian pipeline gas entering the EU is transmitted through the TurkStream pipeline, which passes through Türkiye and Greece.
The Eurostat report emphasizes that EU pipeline gas imports from Russia have continued to decline, with volumes dropping by over 60% in Q4 2024 compared to Q1 2021. However, due to the rising prices, the overall value of these imports has only decreased by 9% over the three-year period, according to the data.
Olivia Brown for TROIB News
A report released on Monday titled ‘EU trade with Russia’ indicates that in the fourth quarter of 2024, the volume of LNG imported from Russia was 18% higher than in the first quarter of 2021. During the same timeframe, the value of these imports skyrocketed by 274% as a result of the energy crisis.
European gas prices saw significant increases following the escalation of the Ukraine conflict in 2022, coupled with the EU’s commitment to reduce dependence on Russian energy. Although pipeline gas imports from Russia have largely stopped due to sanctions and the sabotage of the Nord Stream pipelines, EU countries have continued to purchase record amounts of LNG from Russia.
Eurostat’s data shows that Russia’s share of the EU’s LNG imports rose from 11% in Q4 2022 to 22% in the final quarter of 2024. Meanwhile, the United States remained the bloc’s leading supplier, making up 36% of its total LNG imports.
In June, Brussels targeted Russian LNG for the first time by banning re-loading operations, ship-to-ship transfers, and ship-to-shore transfers intended for re-export to third countries via the EU. This ban included a nine-month transition period.
On Monday, the EU introduced its 16th package of sanctions, which further tightened restrictions on Russian energy. However, the bloc refrained from implementing a complete ban on Russia’s LNG.
According to analytics firm Kpler, the imports of Russian LNG by EU member states have reached an all-time high, with the bloc increasing its imports of super-chilled fuel following Ukraine’s suspension of pipeline gas transit through its territory.
Ukraine chose not to extend a five-year transit contract with Russia’s Gazprom at the end of 2024, effectively cutting off several EU countries from Russian pipeline gas. At present, the only remaining Russian pipeline gas entering the EU is transmitted through the TurkStream pipeline, which passes through Türkiye and Greece.
The Eurostat report emphasizes that EU pipeline gas imports from Russia have continued to decline, with volumes dropping by over 60% in Q4 2024 compared to Q1 2021. However, due to the rising prices, the overall value of these imports has only decreased by 9% over the three-year period, according to the data.
Olivia Brown for TROIB News
