Russian liquefied natural gas shipments to the European Union slumped last month due to plant maintenance and weaker demand, but exports could rebound if a cold snap this winter boosts consumption.
Russian LNG arrivals in EU ports fell more than 25% in August from a year earlier to about 770,000 tons, the lowest level for any month since 2021, according to preliminary ship-tracking data compiled by Bloomberg. While the region’s overall imports also declined, Russia’s export capacity was also curbed by annual works.
A record surge in Russian LNG shipments to Europe has put the super-chilled fuel in political spotlight since 2022. While Germany, Poland and the Baltic states have increasingly shunned Russian LNG, Spain, Belgium and France are among the countries to boost purchases after the Kremlin choked off pipeline gas flows. The 27-nation bloc has never formally discussed an EU-wide embargo on Russian gas, including LNG, but Brussels has looked at ways for individual member states to ban the fuel.
The EU is “making efforts to divest away from Russian gas as quickly as possible,” while also keeping in mind its energy security, European Commission spokesman Tim McPhie told reporters in Brussels on Thursday. He said overall reliance on Moscow — even after the jump in Russian LNG flows last year — is far less than it used to be.
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