EU buys record amount of gas from Russia in 2026 - Europe receives all production from the “Yamal” plant in the Arctic
Europe imported more liquefied natural gas from Russia than ever before in the first half of this year, absorbing almost all of the Siberian plant’s output, months before new sanctions on Russian gas imports came into effect. European Union purchases from Yamal LNG, controlled by Novatek, a private Russian company, reached a record 9.89 million tonnes in the first six months of the year, up 18% from the same period a year earlier, according to data from analytics firm Kpler.
The figures underscore the crucial role Europe still plays in keeping Russia's main energy facility running as Moscow's war against Ukraine enters its fifth year. Europe may have paid up to 6 billion euros for the shipments. The main buyers were France, Belgium and Spain, which imported 3.6 million, 2.9 million and 2.7 million tonnes respectively from the Yamal company, Kpler data shows.
New EU rules already ban purchases of Russian LNG under short-term contracts, meaning that any Yamal cargo destined for Europe requires confirmation from the importing country’s customs authority that the sale was made under a long-term contract. Meanwhile, another EU ban on long-term imports of Russian LNG comes into force on 1 January 2027. This will force Russia to look for alternative routes. Gas transported via pipelines will also be banned later in 2027.
Europe's willingness to buy gas from Yamal has been crucial to the project, which is located in the Russian Arctic and depends on a small fleet of specialized tankers to break through the ice.
While Europe bought more liquefied natural gas from Yamal, volumes to Asia fell 74% in the first half of the year to about 510,000 tonnes. Shipments from Yamal to Asia usually increase during the summer, but fewer cargoes are increasingly heading east. This is partly because some international shipping companies, insurance firms and financiers are concerned about exposure to EU sanctions.
Inaugurated by President Vladimir Putin in 2017, Yamal remains Russia's largest producer of liquefied natural gas, with a designed capacity of 17.4 million tons per year, although actual production often exceeds that level. In addition to Novatek, which owns the majority of shares, France's TotalEnergies and China's CNPC also have stakes in the company.
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