European Imports of Russian Liquefied Natural Gas Are Soaring
Aug. 31, 2023, 2022 (EIRNS)—Despite the attempts to sanction all hydrocarbons from Russia, Europe is still consuming large amounts of Russian gas. In fact, European countries are importing 40% more Russian liquefied natural gas so far this year than they were at this time in 2021. According to an article in Financial Times, Russia is now the second-largest supplier of LNG to Europe, behind only the U.S.
The EU banned oil sales from Russia, but not LNG, despite many calls to do so. Therefore, as oil consumption dropped, Europe’s use of LNG has skyrocketed. That was also affected by the September 2022 Nord Stream sabotage, which was previously a main supply line. The EU had planned to completely phase out Russian fossil fuels by 2027, but implications for completely halting in EU economies clearly make the transition look unlikely. According to a campaigner at Global Witness, the NGO that compiled some of these findings: “It’s shocking that countries in the EU have worked so hard to wean themselves off piped Russian fossil gas only to replace it with the shipped equivalent. It doesn’t matter if it comes from a pipeline or a boat—it still means European companies are sending billions to Putin’s war chest.”