The European Union imported a record amount of Russian LNG in 2024
Despite sanctions, Russia sold 15.5 million tons of liquefied natural gas to the EU in 2024, the highest figure since 2019
The volume of imports of Russian liquefied natural gas (LNG) by European Union countries in 2024 was a record, despite calls to ban such supplies, Bloomberg reports, citing ship tracking data.
According to the agency, in 2024, the European Union imported 15.5 million tons of Russian LNG, which is the highest figure since 2019. In 2022, this figure was 13.7 million tons.
Europe purchases fuel from Russia mainly from Novatek.
The total volume of LNG exports of Russian origin in 2024 also reached a record figure of 33 million tons. It is noted that Russia seeks to almost triple LNG exports by 2035 - to 100 million tons.
However, sanctions have already affected Russia's goals to increase LNG exports, Bloomberg analysts say.
Thus, although Novatek's newest Arctic LNG 2 project has begun limited fuel exports, sanctions imposed by the US and its allies have limited the plant's access to ice-class tankers needed to navigate the cold northern waters.
A ban on transshipment of Yamal LNG cargoes at European ports could complicate the logistics of Russian supplies to Asia when the Northern Sea Route is closed. However, the sanctions could actually lead to Russia sending more liquefied gas to Europe.
As reported by "Ukrainian Energy", Andriy Sybiga, Minister of Foreign Affairs of Ukraine, called for a ban on the import of Russian liquefied natural gas (LNG) to the European Union in order to "not finance the criminal regime of the Russian Federation." The Foreign Minister reacted to the publication of the Financial Times that during 2024, EU countries imported a record amount of Russian LNG.
