Gas paradox: EU increases fuel imports from Russia in 2023
The European Union is increasing its imports of liquefied natural gas from Russia despite its commitment to phase out Russian fossil fuels by 2027, the Financial Times reports, citing an analysis of industry data by Global Witness. Between January and July 2023, liquefied natural gas imports to the European Union increased by 40% compared to the same period in 2021. This growth rate is higher than the global average increase in Russian LNG imports, which is 6% over the same period. The consequences of such a decision could be serious, especially in the context of the European Union's intentions to reduce dependence on Russian energy supplies. "It's shocking that EU countries have worked so hard to get rid of Russian fossil gas, only to be replaced by its equivalent. Whether it's imports through pipelines or by sea, it still means that European companies are sending billions into Putin's war chest," said Jonathan Noronha-Gant, senior fossil fuel campaigner at Global Witness. According to the organization, Russian liquefied natural gas accounted for 16% of total imports to the European Union (21.6 million out of 133.5 million cubic meters) during January-July. The bulk is exported through Yamal LNG, a liquefied natural gas company majority owned by Russia's Novatek. Other stakes are held by France's Total Energies, China's CNPC, and the Chinese state fund. These data also indicate that in 2022, imports of liquefied natural gas to Europe exceeded the volumes supplied through pipelines for the first time. At that time, the share of Russian LNG in global pipeline gas exports fell to 29%, compared to about 43% on average over the previous 10 years. These data show that even despite the declared intention to reduce dependence on Russian energy supplies, the EU continues to import LNG from Russia, which raises questions about the effectiveness and consistency of the bloc's energy strategies.
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