Last year, Europe bought 17.8 million tons of liquefied natural gas (LNG) from Russia, which is two million tons more than in 2023. The main reason was the decrease in the price of Russian gas due to sanctions, which made it cheaper compared to other suppliers, informs The Guardian.
In 2024, Europe imported 49.5 billion cubic meters of Russian gas through pipelines and another 24.2 billion cubic meters of LNG shipped by sea, according to gas analyst Jan-Erik Fanrich. Part of this LNG was later resold to other countries.
Data from the Center for Energy and Clean Air Research (Crea) showed that in 2024, Russian LNG imports cost the European Union €7.32 billion. According to their calculations, supplies increased by 14%, reaching 17.5 million tons.
“The reason for the growth is quite simple – Russian LNG is offered at a discount to alternative suppliers. Without sanctions on this product, companies act in their own interests and buy more and more gas from the cheapest supplier.” — noted in Crea.
