Share of Russian Gas in EU Starts to Increase Again: Bloomberg

The share of Russian gas in EU supplies has begun to rise again after declines that started in 2022, Bloomberg reports, citing data from the European Commission. According to these figures, in the first quarter of 2022, the share of Russian imports accounted for 34% (with Norway in second, providing a quarter of imports). In the second quarter of 2023, Russian gas made up 14% of the fuel imported into the EU.

Since then, according to EU data, the share of Russian gas has started to increase again, reaching 19% in the first quarter of this year. In terms of EU supplies, Russia lags behind Norway (34%) and the USA (20%) but is ahead of Algeria (13%) and other suppliers from Azerbaijan, Qatar, the United Kingdom, and more (14%).

According to the analytical center “Bruegel”, by the end of 2023, Russian gas imports to the EU were around 1 billion dollars per month, significantly lower than the peak figure of 16 billion dollars per month at the beginning of 2022, Bloomberg notes.