EU buys record amount of Russian gas

The EU imported a record amount of Russian LNG from Yamal in the first four months of the year, receiving 91 cargoes between January and April that totalled 6.69 million tonnes—its highest volume for that period since the project started shipping in December 2017, analysis of shipping data by the environmental group Urgewald found. The bloc paid an estimated €3.88bn (about £3.25bn) for the gas based on benchmark market prices.

The report links the spike to disruption and tighter supply conditions in global gas markets. It says the Iran conflict, alongside the closure of the Strait of Hormuz since late February, removed significant LNG flows from world markets—pushing benchmark gas prices higher and making every Russian cargo more expensive than earlier in the year.

Urgewald’s analysis also argues the pattern shows Russia has been able to keep its Arctic LNG business running into Europe’s pre-ban period. It says the EU took 98% of all Yamal exports in the January–April window, and that for three consecutive months every cargo that reached its final destination went to the EU. The analysis notes Belgium’s Zeebrugge terminal was a major entry point, receiving the most cargoes in the period.

The article adds that more restrictions are scheduled in the EU’s sanctions timetable—Urgewald argues that despite the steps being introduced, long-term contract structures remain a loophole allowing bulk LNG shipments to continue. EU officials have said the phase-out schedule will not be reconsidered, even with price volatility expected in the coming refilling season.