EU Commissioner proposes Russian LNG phase out as imports surge

Originally published at Europe in Review on October, 2023

EU Commissioner Kadri Simson stated it was a European Union (EU) goal to curtail Russian LNG imports, which have surged since the Russian invasion of Ukraine even as pipeline gas imports have been dramatically reduced. [UKRInform] [Reuters]

Imports of Russian liquified natural gas (LNG) are up 40% in 2023 compared to before the war in Ukraine began. [Euronews] [Reuters]

Natural gas prices are down compared to 2022, while supplies are up as the global exporters invest in natural gas and LNG terminal capacity.[ Reuters] However, the end of large scale Russian pipeline gas imports following the Russian invasion of Ukraine has meant that the price of gas still remains approximately double that of 2021. [AP]