Trends in Europe's use of Russian Liquefied natural gas (LNG), continue to impress. And not in a positive way.
EU countries, led by Belgium, France, and Spain, have imported Russian LNG representing approximately $20 billion in revenue, since the full-scale invasion of Ukraine.
In total the three countries account for 318 out of 348 deliveries made into the EU since January 1, 2022. Since the beginning of the war two months later, the EU has received approximately 20m tons of LNG from Russia through more than 300 shipments, representing approximately $20 billion in gas revenue for Russia.
In 2022 EU countries received around 90 percent of LNG produced at Novatek’s Yamal plant. In 2022 Belgium, France, and Spain combined for nearly 75 percent of LNG dispatched from Sabetta, the port adjacent to the Yamal plant in the Russian Arctic.
Let’s look specifically at these three countries and analyse the level of their dependence on Russian LNG.
European imports of Russian liquified natural gas (LNG) are expected to keep surging in 2023. In 2022, the EU imported 22 billion cubic metres of LNG from Russia, a 38 % increase compared to the previous year. These imports account for USD 10 million of Russian daily revenue.
As the biggest importer of Russian LNG, Spain is leading this trend, with Russian LNG accounting for 6.513 GWh, or 17.4 % of total imports in April 2023. Spain has doubled, or even tripled its imports of Russian LNG in each of the last 12 months when compared to the previous year. In May, Russia provided 27.9% of Spain's gas - up from 11.9% a year earlier.
Spain imported 7,673 gigawatt hours (GWh) of liquefied natural gas from Russia in June, which accounted for 26.8% of the kingdom's total purchases. From January to June, Spain purchased 41,145 GWh of LNG from Russia, Enagas added.
Belgium has emerged as the largest recipient of Novatek’s products. A key hub is the port of Zeebrugge, where Fluxys, a natural gas transmission system operator, runs a regasification and storage terminal. The company signed a long-term storage agreement – through 2035 – with Novatek in 2015.
The deal allows for up to 8m tons of LNG, around 105 shipments, to pass through the facility.
French energy giant TotalEnergies purchased over 10% of Russia's shipments of LGN, buying up nearly 4.2 million cubic metres of the fuel. LNG continues to be a key source of revenue for the Kremlin and its war in Ukraine, with 2023 sales to Total and others valued at over €5.8 billion.
17% of French LNG imports came from Russia. France is not dependent on Russia, but if we look at the corresponding quantity, France is currently the main European importer of Russian LNG.
Razom We Stand after analysing these figures, appealed to the Heads of governments and Ministers of energy of Spain, France and Belgium to discontinue the use of Russian liquefied natural gas (LNG) and to support and promote the adoption and implementation of the 12th package of EU sanctions on the embargo of Russian LNG and secondary sanctions on technologies and services associated with LNG and LPG infrastructure development.
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