Unlike the USA, the EU has not yet introduced any sanctions on the import of liquefied gas from the Russian Federation.
European Union as a platform it accounts for 50% of Russian LNG (liquefied natural gas) exports. More than $1 billion is sent to Russians every month.
High North News writes about this.
More details
Analysts emphasize that Russia has seen an increase in revenues from LNG exports, especially since it is still not subject to EU sanctions. From December 2022 to October 2023, half of Russian LNG exports, totaling €8.3 billion, were sent to the European Union market.
Belgium, Spain and France remain the key players – they account for 88% of Russian LNG imports into the EU over the past 10 months.
EU ports receive more than 200 gas shipments from the Russian Yamal LNG plant per year. The volume of imported LNG is now so significant that it has surpassed other types of Russian fossil fuels.
“LNG was the main type of fossil fuel purchased by the EU from Russia in January-November 2023,” the report emphasizes.
All liquefied gas is produced at the Yamal plant, located in the Russian Arctic. Thanks to the second Arctic LNG 2 project, scheduled to start up in the coming weeks, EU imports could increase further in 2024.
Previously, the National Agency of Ukraine for the Prevention of Corruption (NAPC) included the Belgian independent gas system operator Fluxys in the list of international war sponsors. The fact is that the company promotes the export of Russian liquefied natural gas (LNG), financing Russia's war against Ukraine.
Related topics:
More news
