EU uses Russian LNG at historic rate
Date
1/20/2025 7:04:44 AM
(MENAFN) The European Union's imports of liquefied natural gas (LNG) from Russia have reached an all-time high in the first two weeks of 2025, according to data reported by Politico. In the first 15 days of the year, EU member states purchased 837,300 metric tons of Russian LNG, surpassing the previous year's amount of 760,100 tons during the same period.
This surge in imports came after Ukraine declined to renew a five-year transit agreement with Russian energy giant gazprom at the end of 2024, halting pipeline Natural gas deliveries to several EU countries, including Romania, Poland, Hungary, Slovakia, Austria, Italy, and Moldova. While pipeline gas exports from Russia significantly declined due to the conflict in Ukraine and the sabotage of the Nord Stream pipelines in 2022, the EU has continued importing record amounts of LNG from Russia, as it has been less targeted by sanctions.
In June, the EU imposed sanctions on Russian LNG, banning specific operations such as ship-to-ship transfers and re-exporting to third countries, with a nine-month transition period in place. Despite the EU's stated goal to reduce dependence on Russian energy, the bloc continued to purchase LNG from Russia, which accounted for 15% of its total LNG imports as of June 2024. Russia remains the second-largest supplier of LNG to Europe, behind the US.
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