EU Imports Record Volumes of Russian LNG Ahead of Ban

By Staff, Agencies

The European Union imported a record volume of liquefied natural gas [LNG] from Russia's Yamal LNG project during the first half of 2026, despite plans to ban Russian LNG imports beginning next year, the Financial Times reported.

According to data from energy analytics firm Kpler cited by the newspaper, the EU imported 9.89 million tons of LNG from the Novatek-operated Yamal project, an 18% increase compared with the same period last year, absorbing nearly all of the Arctic facility's production.

The imports come ahead of the EU's planned January 1, 2027 ban on Russian LNG supplied under long-term contracts. Brussels has already prohibited purchases under new short-term agreements.

German environmental group Urgewald estimated the value of the imports at up to €6 billion [$7 billion].

France was the largest buyer during the first half of the year, importing 3.6 million tons, followed by Belgium with 2.9 million tons and Spain with 2.7 million tons.

At the same time, shipments from the Yamal project to Asia fell by 74% year-on-year to just over 510,000 tons as European demand absorbed most of the available supply.

The EU has faced rising energy costs after reducing imports of Russian energy following the escalation of the Ukraine conflict while simultaneously pursuing an accelerated green energy transition.

Energy markets have also come under additional pressure from the Middle East crisis, which disrupted LNG supplies from Qatar, one of the world's largest exporters of the fuel.

Europe's recent summer heatwave has further strained gas supplies. In early July, France withdrew more than 200 million cubic meters of natural gas from underground storage facilities to meet increased electricity demand for air conditioning, leaving storage refill rates at their lowest level on record for this time of year.

After replacing much of its Russian pipeline gas with more expensive US LNG, the European Union has become increasingly exposed to supply disruptions and higher import costs.

Last month, Ivan Jimenez, head of the Port of Bilbao, one of Europe's largest LNG import terminals, urged Brussels to postpone the planned ban on Russian LNG, warning that the bloc risks becoming excessively dependent on supplies from the United States.