European Union member states imported a record volume of liquefied natural gas (LNG) from Russia during the first half of 2024, despite ongoing efforts to decouple from Russian energy supplies.
Rising Reliance on Russian LNG
The surge in imports is centered on Russia’s primary LNG production facility.
For the first six months of 2024, EU countries purchased record amounts of LNG from Russia.
The 2027 Phase-Out Deadline
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Market Dynamics and Supply Security
Frequently Asked Questions
Why is the EU still buying Russian gas?
Is all Russian gas coming via pipeline?
No. A growing portion of the gas arriving in Europe is in the form of Liquefied Natural Gas (LNG), which is shipped by sea.
Pro Tip: If you are tracking energy costs, watch for updates on the EU’s "Gas Storage Filling" targets, which often influence how aggressively member states bid for LNG on the global market.
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