MOSCOW:The European Union’s ban on importing liquefied natural gas (LNG) from Russia on short-term contracts officially came into force on A...
MOSCOW:The European Union’s ban on importing liquefied natural gas (LNG) from Russia on short-term contracts officially came into force on April 25.
However, a significant decline in Russian LNG sales to Europe should be expected no earlier than in 2027.
On January 26, the Council of the European Union formally approved a full ban on Russian LNG supplies to the EU starting January 1, 2027, and on pipeline gas from September 30, 2027. The ban on LNG imports under short-term contracts took effect on April 25, 2026, while short-term contracts for pipeline gas supplies must be completed by June 17, 2026. The regulation entered into force upon publication on February 2, 2026.
According to TASS calculations, in 2025, Russia ranked second after the United States in terms of the value of LNG imports by the EU, with a share of 16.1% (or 16.2% including both LNG and pipeline gas). In volume terms, Russia accounted for about 14% of LNG imports into the EU (12.1% of total gas supplies, including pipeline gas). Total Russian gas supplies to Europe last year amounted to 38 bln cubic meters, of which just over 20 bln cubic meters were LNG.
At the same time, Russian President Vladimir Putin said that, given the EU’s intention to fully abandon Russian gas, Russia could itself initiate an early exit from the European market and redirect supplies to other, more interested buyers. Deputy Prime Minister Alexander Novak noted that Russian companies may soon redirect part of LNG supplies from Europe to friendly countries, including China, India, Thailand, and Philippines, without waiting for further EU restrictions.
-News Feed
COMMENTS