Russia increased LNG exports to Europe by a fifth; Germany considers import ban

Imports of Russian LNG into Europe rose by a fifth last year, according to data from the Eikon platform cited by Reuters. The European Union has not yet banned its imports, allowing Russia to partly offset reduced pipeline gas deliveries. Germany is now considering a ban on its imports. 

While total imports of Russian gas into Europe are at record lows, one segment has seen an increase. Imports of Russian gas in liquefied form (LNG) rose last year.

Imports of liquefied Russian gas are still permitted, but this may change soon. While no ban is currently being prepared at the European level, member states can act independently. For example, the German Ministry for Economic Affairs has reportedly already warned industrial companies that purchase liquefied gas from Russia that it intends to restrict or even ban its imports.

In Europe, the United Kingdom has banned imports of Russian liquefied natural gas. However, the main importers of LNG in the European Union continue to import it. These include Germany, France, Belgium and the Netherlands.

Imports of Russian LNG into Europe totalled 17 million tonnes of LNG last year, equivalent to approximately 23 billion m3. Based on preliminary estimates of last year's gas consumption, this represents 6-7 % of total natural gas consumption in the European Union.

In 2021, the European Union imported 155 billion cubic metres of natural gas from Russia, accounting for approximately 45 % of EU gas imports and nearly 40 % of its total consumption.

Russia's total LNG exports rose by 8.6 % in 2022 to around 33 million tonnes (approximately 45 billion m3). More than half was therefore supplied to Europe.