Record imports of natural gas from Russia - EU bought over 15 mln tons of LNG from the Kremlin in 2024
In 2024, the European Union imported a record amount of liquefied natural gas from Russia. However, the sanctions have limited Russia's exports and could affect the flow of future supplies.
The European Union reached a record amount of imports of Russian liquefied natural gas (LNG) in 2024, despite calls for a ban on such supplies, Bloomberg reports.
According to the agency, in 2024, the European Union imported 15.5 million tons of Russian gas, the highest figure since 2019. In 2022, this figure was 13.7 million tons.
Europe buys fuel from Russia mainly through Novatek. The total volume of gas exports of Russian origin in 2024 also reached a record figure of 33 million tons. Russia aims to almost triple exports by 2035, reaching 100 million tons.
However, the sanctions have already affected Russia's goals to increase gas exports, according to Bloomberg analysts. Although Novatek's newest Arctic LNG 2 project has begun limited fuel exports, sanctions imposed by the US and its allies have limited the plant's access to the tankers needed to navigate the cold northern waters.
A ban on transporting Yamal LNG cargoes to European ports could complicate the logistics of Russian supplies to Asia when the Northern Sea Route is closed. However, the sanctions could result in increased exports of Russian liquefied gas to Europe.
Meanwhile, Ukraine has called several times for the ban on Russian imports to the European Union so that, according to it, "the criminal regime of the Russian Federation is not financed."
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