Brussels: The European Union's imports of Russian liquefied natural gas (LNG) have reached their highest levels since the inception of the Russia-Ukraine conflict in 2022. The first quarter of the year saw a significant increase, marking a 16% rise compared to the previous year, with imports totaling 6.9 billion cubic meters.
According to Yemen News Agency, a study conducted by the Institute for Energy Economics and Financial Analysis (IEEFA) and published on Wednesday sheds light on Europe's continued reliance on Russian gas. This comes amidst global disruptions in hydrocarbon supplies due to the ongoing conflict in the Middle East. The report highlights that France, Spain, and Belgium have been key contributors to the rise in imports.
The study further notes that April continued this upward trend, with a 17% year-on-year increase in European imports of Russian LNG. This is part of Europe's broader strategy to diversify its energy sources and reduce its reliance on Russian pipeline gas, a move that began with the onset of the war in 2022.
The IEEFA report underscores that these imports formed 45% of the EU's total gas imports last year, with the remainder being transported through pipelines. Despite the European Commission's plans to halt all Russian gas imports by autumn 2027, Russia remains the second-largest LNG supplier to the EU.
France emerged as the leading importer of Russian LNG within the EU during the first quarter of 2026, achieving record import levels in January. Concurrently, Europe has been bolstering its dependence on US LNG, with the United States expected to become the continent's primary gas supplier by 2026.
In the same period, Norway maintained its status as the EU's top gas supplier, accounting for 31% of the total LNG and pipeline natural gas imports, followed by the United States at 28% and Russia at 14%, as per European Commission data.
The Institute for Energy Economics and Financial Analysis further projects that by 2028, the EU could source 80% of its LNG from the United States, signaling a significant shift in its energy supply dynamics.