Europe purchased a record amount of Russian LNG in 2024

Author:
Iryna Perepechko
Date:

Last year, Europe bought 17.8 million tons of liquefied natural gas from Russia — two million tons more than in 2023. All because Russia lowered the price due to sanctions — now it is lower than other suppliers.

This is reported by The Guardian, citing data from Rystad Energy analysts.

According to gas analyst Jan-Erik Fanrich, in 2024 Europe imported 49.5 billion cubic meters of Russian gas through pipelines and another 24.2 billion cubic meters as a cold liquid on ships. Some of the LNG will be resold to other countries.

Data from the Center for Energy and Clean Air Research (Crea), which differs slightly from Rystadʼs figures, showed that Russian LNG imports were worth €7.32 billion to the European Union in 2024. According to the centerʼs calculations, deliveries increased by 14% over the year to 17.5 million tons.

Following Russiaʼs full-scale invasion of Ukraine, the European Union set a goal of halting imports of any Russian fossil fuels by 2027.

Ukrainian activists claim that the “glaring loopholes” undermine the sanctions regime and help Russia finance its military with fossil fuels.

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