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EU Gas Imports From Russia Soar by Quarter in January-November 2024

MOSCOW (Sputnik) - Russia increased gas supplies to the European Union by a quarter year-on-year to 49.6 billion cubic meters in January-November, according to Sputnik's analysis of data from the analytical company Bruegel.

The main increase was provided by pipeline supplies: over eleven months, they increased by 26% to 30.3 billion cubic meters. This is approximately 11.1% of all European gas imports, compared to 8.4% a year earlier.

At the same time, supplies of liquefied natural gas also increased by 18.2% to 19.3 billion cubic meters. Here, Russia's share surged to 7.1% from 5.7% in January-November last year.

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As a result, Russia accounted for 18.3% of the EU's gas imports in January-November of this year, compared to 14% a year earlier. Russian gas was mainly supplied to the EU in the form of LNG (7.1% of European imports), then via the Turkish Stream (5.6%), followed by Ukrainian transit (5.5%).

At the same time, the EU reduced gas import volumes overall by almost 6% to 271.5 billion cubic meters in the reporting period. Norway remains the main supplier of gas to the EU in January-November, having increased exports by 3.6% to 85.2 billion cubic meters.