Europe Spends Record €7.28bn on Russian Arctic Gas in Eight Months

European ports received 156 cargoes carrying 11.39 million tonnes of liquefied natural gas from Russia’s Yamal project during the first eight months of 2026, up from 142 cargoes a year earlier. The shipments were worth an estimated €7.28 billion, surpassing the amount Europe spent on Yamal LNG during all of 2025. Higher gas prices and increased deliveries contributed to the rise, as disruption to Middle Eastern energy routes tightened supply. France, Belgium, Spain and the Netherlands were among the largest European importers.