EU Imports Record Volumes Of LNG From Russia

European imports of liquefied natural gas (LNG) from Russia are at an all-time high. From January to July 2023, EU countries increased imports by 40% compared to the same period in 2021, before the conflict in Ukraine.
According to the British newspaper Financial Times, which cites procurement data collected by KPLER and processed by the environmental non-governmental organization Global Witness, “in the first half of 2023, Russia was the second main supplier of LNG to the EU after the United States.” According to Global Witness spokesman Jonathan Noronha-Gant, EU countries have “replaced pipeline Russian gas with LNG.”
In the first seven months of 2023, European imports of Russian LNG amounted to 21.6 million cubic meters (16% of total imports) worth €5.29 billion. In Europe, the two largest importers of Russian LNG are Belgium and Spain that currently chairs the European Council. Eastern European countries, such as Hungary and Serbia that lack access to seaports and LNG terminals, continue to import Russian gas through a pipeline system that has been operating since Soviet times.
In addition, Hungary has entered into an agreement with Turkey: part of the Russian gas supplied through the Turkish Stream gas pipeline will be sold to the government in Budapest. The first contract with the Turkish company Botaş provides for the supply of 275 million cubic meters of Russian natural gas in 2024. The strategic agreement was reached on August 20 during a summit in Budapest between Hungarian Prime Minister Viktor Orban and Turkish President Recep Tayyip Erdogan.