Russian LNG imports into the EU continue to rise this year, Urgewald data show

From January to October, the European Union imported around 8.7 billion euros’ worth of Russian liquefied natural gas (LNG) from the Arctic, equivalent to 211 billion crowns, 21 percent more than in the whole of last year. The figures come from data published by the German environmental organization Urgewald in its analysis.

The analysis was prepared for Urgewald by analytics and technology company Kpler, which reported that 12.89 million tonnes of LNG from Russia’s Yamal project arrived at EU ports in the first ten months of this year. That was 6.3 percent more than in the same period last year. The European Union accounted for 81 percent of the project’s gas exports, taking delivery of a shipment approximately every 1.7 days.

The increase in spending is due not only to higher import volumes but also to rising gas prices. Although deliveries from the Yamal project to the EU fell by 11 percent in October compared with September, their estimated value rose by 2.6 percent to 839 million euros. The European benchmark gas price had climbed to 86.79 euros per megawatt-hour, more than double its level before the United States and Israel launched a war against Iran at the end of February.