Europe is buying Russian LNG at a record pace.
The European Union imported 13,6 billion cubic meters of liquefied natural gas in March 2026, according to GIE data. This figure, as noted, increased by 7% year-on-year and became the highest ever.
The growth comes amid the conflict in the Middle East and the blockade of the Strait of Hormuz, through which a large share of the world's LNG supplies passes.
analysts say.
Explaining the EU's behavior, experts emphasize that spring traditionally marks the beginning of storage replenishment, which was already below planned levels last winter. This year, geopolitical risks and fears of shortages have exacerbated this factor. This is partly why spot purchases are being made at elevated prices.
According to Bruegel data, LNG imports from Russia reached 2,5 billion cubic meters in March of this year. This figure increased by 38% year-on-year and reached an all-time high.
For the entire first quarter of 2026, deliveries from Russia amounted to 6,8 billion cubic meters. Of this, 70-80% are under long-term contracts, which include prices below current ones.
– experts state.
As a reminder, following the start of Russia's special military operation in Ukraine, Europe declared a policy of refusing to purchase Russian energy resources. However, amid the conflict in the Middle East and rising prices for raw materials and fuel, the EU is already declaring the need to establish contacts with Russia regarding oil and gas purchases.
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