Russian Natural Gas Imports to EU Decrease Fivefold, LNG Imports Increase

In 2023, the EU cut its imports of Russian natural gas to Europe fivefold through its extensive pipeline system, but significantly increased its purchases of liquefied natural gas (LNG). Alexander Novak, the Russian deputy prime minister in charge of energy, said in an interview with Expert magazine that “Russia’s share of natural and liquefied gas fell to 15% of total European imports last year, down from 45% in 2021.” However, last year, according to Novak, “LNG purchases from Russia increased and reached more than 15 million tons, which is 38% more than in 2021.”

Brussels, which follows a sanctions policy against Russia and seeks to accelerate decarbonization and energy transition, is gradually reducing hydrocarbon imports from Russia. Oil imports fell to a share of 4% in 2023, down from 27% in 2021. Import of oil products demonstrated a similar trend, falling from 50% in 2021 to 9% last year. As Novak emphasized, “the abandonment of Russian gas” has contributed significantly to “reduced consumption” and, as a result, “unprecedented deindustrialization” in Europe.