LNG imports from Russia rise to record high

Dusseldorf As the European Union (EU) implements the oil embargo against Russia, imports of Russian liquefied natural gas (LNG) soar to a new high. Compared to the previous year, the EU including Great Britain bought almost 21 percent more LNG from Russia than before the outbreak of the Ukraine war. This is shown by current figures from the market research company Icis.

“13 percent of European LNG imports currently come from Russia – and the amount is growing rapidly,” gas expert Andreas Schröder from Icis told Handelsblatt. Some of the Russian liquefied natural gas should also arrive in Germany. The Federal Republic does not yet have its own active LNG terminal and is therefore currently still buying the liquefied natural gas from neighboring countries such as France, Belgium and the Netherlands.

The EU member states (plus Great Britain) pay a lot for the Russian LNG: Roughly speaking, almost 27 billion euros could have flowed to Moscow from January to November. And this despite the fact that the conventional gas flows from Russia have come to an almost complete standstill months ago.