Potential ban on Russian LNG can cost EU 19% of its imports: Report
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The EU imported LNG equivalent to a total of 7 billion euros ($7.46 billion) in January-February from nine different countries.
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'Nimbus SPB', an oil products tanker, floats in the Finnish Gulf past the Lakhta Center skyscraper, the headquarters of Russian gas Gazprom in St. Petersburg, Russia, on June 11, 2023. (AP)
Based on data from Eurostat, Sputnik estimated on April 22 that a ban on Russian liquified natural gas (LNG) from the European Union will cost it a 19% share of its imports as Russia is the second largest supplier of LNG to the bloc.
EU member states intend to include a ban on LNG imports from Russia in the 14th package of sanctions against it, Swedish Foreign Minister Tobias Billstrom told reporters earlier today.
The EU imported LNG equivalent to a total of 7 billion euros ($7.46 billion) in January-February from nine different countries.
US, Russia, Algeria... in that order
48%, an increase from last year's 38%, of the total EU imports were from the US making it a major supplier to the EU.
Russia, however, has also increased its share of the EU's imports over the year by 5% to reach 19% as it supplied the bloc with LNG worth 1.3 billion euros to the EU over the past year.
The third spot was for Algeria which also increased its share of the EU's total importance from 6% in 2023 to 9%.
Not looking good for everyone
On the contrary, Qatar's share in the bloc's total imports has diminished from 15% to 8%.
Nigeria, Norway, Trinidad, and Tobago each contributed a 4% share of the EU's LNG purchases, while the United Kingdom had a 2% share only.
Biggest LNG consumers
France, the Netherlands, and Spain are the biggest LNG consumers in the EU with their LNG imports worth 1.8 billion euros, 1.5 billion euros, and 1.2 billion euros, respectively.
At the same time, Belgium and Greece are still actively buying Russian gas.
France double-faced on Ukraine as Russian gas imports soar: Politico
A report by Politico on April 11 detailed that France is finding itself under scrutiny for its surging payments to Russia for natural gas.
Data analyzed by the Centre for Research on Energy and Clean Air (CREA) revealed a significant increase in Russian liquefied natural gas (LNG) deliveries to France in the first quarter of this year compared to last year, making France the leading importer of Russian LNG within the EU.
While French President Emmanuel Macron has been vocal in his support for Ukraine, critics argue that France's substantial payments to Russia contradict its position.
The payments, totaling over €600 million since the beginning of the year, raise concerns about France's commitment to reducing Europe's dependence on Russian energy.
Despite assertions from French officials that these purchases are necessary to ensure energy security and are tied to long-term contracts, skepticism abounds.
Critics point out that France could do more to decrease reliance on Russian gas and suggest that the influence of French energy giant TotalEnergies, which has contractual obligations to purchase Russian LNG, may be a factor in France's reluctance to take decisive action.
