Europe’s efforts to reduce its dependence on Russian energy are progressing slowly. According to data from the energy think tank Centre for Research on Energy and Clean Air (CREA), published by “Welt am Sonntag,” EU nations imported 14 percent more liquefied natural gas (LNG) from Russia in June compared to the previous year.
This increased demand has resulted in Kremlin revenues from selling the commodity rising to 60 million euros per day. This recent surge directly contradicts the EU’s plan to cease importing any LNG from Russia starting in 2027. CREA data shows that France bought the largest share of Russian LNG. Specifically, the Port of Montoir in Brittany recorded four times the amount in June compared to May.
The situation in the global gas market has recently worsened due to disruptions in the Strait of Hormuz concerning the Iranian conflict, which caused the decline of Qatar, one of the world’s largest gas exporters. Overall, the think tank Bruegel reported that Russian natural gas accounted for 13.4 percent of the EU’s total gas imports during the second quarter.
