Russian LNG in Europe: Diversification and energy resilience

Despite tensions in Ukraine, the EU is stepping up its winter purchases of Russian LNG, but alternatives are emerging. Find out more about this energy dependency.

Share:

LNG Europê

Russian LNG in Europe is currently taking center stage. Despite the conflicts in Ukraine, the EU continues to increase its purchases, which has a considerable influence on the geopolitics of gas. This decision raises questions about Europe’s continuing dependence on fossil fuels and potential alternatives.

Increased purchases of Russian LNG

Despite the war in Ukraine, Europeans have considerably increased their purchases of Russian LNG. This increase is partly explained by the reduction in Russian gas pipeline deliveries to the EU following the invasion of Ukraine. Europeans have responded by diversifying their sources of supply, notably by investing in port terminals to increase their LNG purchases. By 2022, LNG purchases have increased by 70%, with over 40% coming from the United States.

Russia’s share of EU gas imports

By 2023, Russia’s share of EU gas imports has reached 15%, down from 24% in 2022 and 45% in 2021. However, this decrease masks the significant increase in purchases of Russian LNG. In the first seven months of 2023, the EU imported 12.4 billion cubic meters of Russian LNG. This represents 17% of its European LNG purchases, compared with 19.3 billion cubic meters for the whole of 2022 and 13.5 billion cubic meters for the whole of 2021.

The challenges of reducing Russian LNG purchases

Reducing Russian LNG deliveries rapidly seems complicated in the short term, due to long-term contracts between European companies and Russian suppliers. One possible solution would be to introduce an embargo on Russian LNG, or to limit its import to coordinated volumes via a common platform, at a capped price. This would reduce Europe’s exposure to a potentially unreliable supplier and geopolitical risk.

Alternative gas supply prospects

Even without Russian LNG deliveries from October onwards, Europe could survive the winter thanks to lower demand in China, making it easier to find alternative sources. However, alternatives such as the USA and Qatar could be more expensive, which could have a negative impact on the EU. Europe faces a delicate energy dilemma, as it seeks to reduce its dependence on Russian LNG while securing its winter energy supply. Future decisions will have a significant impact on the EU’s energy security.

Egypt’s Electricity Minister engages in new talks with Envision Group, Windey, LONGi, China Energy, PowerChina, and ToNGWEI to boost local industry and attract investments in renewable energy.
The potential closure of the Strait of Hormuz places Gulf producers under intense pressure, highlighting their diplomatic and logistical limitations as a blockage threatens 20 million daily barrels of hydrocarbons destined for global markets.
Budapest and Bratislava jointly reject the European Commission's proposal to ban Russian energy supplies, highlighting significant economic risks and a direct threat to their energy security, days ahead of a key meeting.
Libya officially contests Greece's allocation of offshore oil permits, exacerbating regional tensions over disputed maritime areas south of Crete, rich in hydrocarbons and contested by several Mediterranean states.
Hungary, supported by Slovakia, strongly expresses opposition to the European Commission's plan to phase out imports of Russian energy resources, citing major economic and energy impacts for Central Europe.
Israeli military strikes on Iran's Natanz nuclear site destroyed critical electrical infrastructure but did not reach strategic underground facilities, according to the International Atomic Energy Agency (IAEA).
The French president travels to Nuuk on 15 June to support Greenlandic sovereignty, review energy projects and respond to recent US pressure, according to the Élysée.
Kazakhstan has selected Rosatom and China National Nuclear Corporation to build two nuclear power plants totaling 2.4 GW, a decision following a favorable referendum and coinciding with Xi Jinping’s upcoming strategic visit.
Israeli strikes against Iranian nuclear sites disrupt US-Iranian talks on the nuclear deal. Tehran now considers canceling the upcoming negotiation round in Oman, heightening regional economic concerns.
Facing alarming breaches of uranium enrichment thresholds by Iran and explicit existential threats, Israel launches targeted military strikes against Iranian nuclear infrastructure, escalating regional tensions dramatically.
The Kremlin has confirmed that Vladimir Putin aims to help resolve the nuclear dispute between the United States and Iran, leveraging strengthened strategic ties with Tehran.
President Lee Jae-myung adopts an energy diplomacy rooted in national interest, amid a complex international landscape of rivalries that could create challenging situations for the country and its energy businesses.
Paris and Warsaw held a bilateral workshop in Warsaw to strengthen coordination on electricity infrastructure investments and supply security under the Nancy Treaty.
Donald Trump firmly rejects any uranium enrichment by Iran, while Russia affirms Tehran’s right to civil nuclear power, intensifying tensions in negotiations over the Iranian nuclear program.
Syria has signed a $7bn agreement with a consortium of companies from Qatar, Turkey and the United States to rebuild its national power sector.
Friedrich Merz confirmed that Germany would block any attempt to relaunch the Nord Stream 2 pipeline, despite internal calls suggesting a potential reopening of dialogue with Moscow.
A memorandum of understanding formalises energy cooperation between the European Union and the Latin American Energy Organization, including permanent EU participation in the organisation’s governance bodies.
Prime Minister Viktor Orban announced that Hungary would oppose the EU's plan to ban Russian energy deliveries by 2027, both legally and politically.
Michael Kretschmer, Minister-President of Saxony, proposed restarting dialogue with Russia on the Nord Stream 2 pipeline, despite clear opposition from the German government to any reactivation of the project.
Donald Trump is calling on the United Kingdom to abandon wind energy in favor of revitalizing offshore oil extraction, sparking debate over the economic and political implications of such an energy strategy after their recent trade agreement.