Economics and politics continue to collide over Russia after European companies imported 18 billion cubic metres (bcm) of LNG last year.
European Commissioner for Energy Kadri Simson, who referenced the volumes during a speech to the Energy Council this week, insisted, “We must end this year with even less Russian gas in our system than the year before.”
The trend has been downwards following sanctions. Russian gas supplies accounted for 15% of EU total gas imports last year, compared with 24% in 2022 and as high as 45% the year before the war started. Overall, gas imports from Russia decreased by 71% since 2021.
“EU gas prices have gone down significantly and are now quite stable. They closed last week at around 25 EUR/MWh. This is a level last recorded before the war started,” said Simson.
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