The European Commission is urging EU countries to refrain from purchasing Russian liquefied natural gas (LNG) and not to enter into new contracts for the fuel. This call comes in response to record-breaking growth in the EU’s LNG purchases from Russia in 2023. The spokesperson for the European Commission, Tim McPhie, stated that despite the increase in LNG imports, overall natural gas imports from Russia have decreased by about two-thirds since the conflict in Ukraine began.
In 2021, the European Union imported 13.5 billion cubic meters (bcm) of Russian LNG, which increased to 19.3 bcm in 2022. The figure reached a record high of 10 bcm in the first half of 2023. McPhie emphasized the Repower EU plan, which aims to eliminate Russian gas purchases as soon as possible. The European Commission is urging countries and companies not to buy natural gas from Russia and to refrain from entering into new contracts.
According to analysis by Global Witness, the EU has purchased over half (52%) of the 41.6 million cubic meters of LNG exported by Russia this year. This percentage has increased from 49% in 2022 and 39% in 2021. Kpler analyst Adam Bennett revealed that 90% of Russian LNG flowing into the EU is distributed among Belgium, France, the Netherlands, and Spain. These countries have contracts that extend “far into the next decade.”
The EU has significantly reduced its natural gas supplies from Russia and banned imports of Russian seaborne oil since the conflict in Ukraine began. However, LNG imports have not yet been subject to sanctions, despite repeated calls from EU officials to do so.
It is worth noting that the EU used to import around one-third of Russian piped gas for its energy needs, but this has significantly decreased due to geopolitical tensions. The push to reduce reliance on Russian energy sources is part of the EU’s broader efforts to diversify its energy supply and enhance energy security.
In conclusion, the European Commission is urging EU countries to stop purchasing Russian LNG and not to enter into new contracts for the fuel. Despite increased LNG imports, overall natural gas imports from Russia have declined. The EU’s efforts to reduce reliance on Russian energy sources align with its goal of diversifying energy supply and enhancing energy security.
Source link
