The share of Russian liquefied natural gas ( LNG) on the EU market continues to grow, despite the general decline in demand in Europe and attempts by Brussels to limit its supply, reported ag. Bloomberg, citing the Agency for the Coordination of Energy Regulators (ACER).
According to his report, the share of Russian LNG in EU imports rose to 20% in the first half of the year, compared to 14% a year earlier. Although the Russian Federation is no longer the main gas supplier to the EU, Russian LNG remains a vital part of Europe's energy security system, the publication notes.
In the third quarter, total EU LNG imports fell to their lowest level since 2021. US LNG supplies accounted for 45%, while Qatar's share fell to 12%. Changes in trade flows, including due to Houthi attacks on merchant ships in the Red Sea, have led to an increase in Russian LNG supplies to the European market.
As previously reported, the EU's 15th package of anti-Russian sanctions will target Russian energy exports, mainly LNG. The European Commission will seek to further limit the ability of EU countries to buy Russian liquefied natural gas, purchases of which have started to grow rapidly again in 2024 amid expected new sanctions restrictions that will hit the bloc's energy sector. In addition, Brussels “intends to tighten sanctions on the tanker fleet” allegedly transporting Russian oil, which is said to be traded on the global market at market prices, despite Western attempts to set price ceilings for Russian petroleum and petroleum products.