Europe may be closer than ever to breaking its energy dependence on Moscow, but it still can't live without one type of Russian natural gas.
Europe may be closer than ever to breaking its energy dependence on Moscow, but it still can’t live without one type of Russian natural gas. While Russian exports of coal, oil and natural gas carried via pipelines to Europe have fallen sharply since Moscow’s invasion of Ukraine in late February, imports of Russian LNG — a chilled, liquid form of gas that can be transported via sea tankers — have risen.
That’s far above the 88% the bloc averaged over the past five years by this point in the year. Stores are so full, in fact, that dozens of LNG-laden ships have been waiting off Europe’s ports in recent weeks, unable to find space to unload their cargoes. But a bigger challenge could emerge in the spring when Europe tries to refill its stores with a much-reduced supply of Russian pipeline gas. Flows to Europe are just 20% of their pre-war levels, according to research firm Wood Mackenzie.
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