Europe imports record levels of Russian LNG

The European Union has seen imports of liquid natural gas from Russia rise to record levels this year, sending billions to Moscow.

Though shipments of natural gas sent via pipelines from Russia to Europe have fallen sharply since the full-scale invasion of Ukraine in February, Europe has turned to Russian liquefied natural gas (LNG), a chilled form of the gas that can be shipped in sea tankers, to make up the difference.

According to research conducted by the energy market analysis firm ICIS for the German business newspaper Handelsblatt found that imports of LNG from Russia rose by 21 per cent over pre-war levels to the EU states and Great Britain. The analysis found that between January and November of this year, the EU plus the UK paid Moscow nearly 27 billion euros ($28.4/£23.5 billion) in exchange for the record flows of liquid natural gas.

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