Azerbaijan ranks among EU’s key LNG suppliers
Azerbaijan has solidified its position as a key supplier of liquefied natural gas (LNG) to the European Union, ranking among the bloc’s top five sources.
Thus, European Union countries have increased their imports of Russian LNG for the first time, securing Russia's position as the second-largest supplier, News.Az reports, citing local media.
Russia now accounts for 23.6% of total LNG exports to the EU. The United States remains the largest supplier, with a 27.8% share, exporting gas valued at €2.25 billion.
Algeria follows in third place with a 16.5% share, amounting to €1.33 billion in exports.
Norway ranks fourth, contributing 12.6% and €1.02 billion, while Azerbaijan completes the top five with a share of 4.5%, exporting LNG worth €365 million.
Note that, EU currently demands around 330 billion cubic meters (bcm) of natural gas annually, with natural gas accounting for roughly 25% of the EU's overall energy consumption. The power generation sector uses about 26% of this gas, while industry consumes approximately 23%. The remaining gas is primarily used in the residential and services sectors for heating.
A central goal of the EU's energy union strategy is ensuring all member states have access to LNG markets. This would diversify gas supplies, enhancing energy security in the short term, while long-term, sustainable solutions are pursued for decarbonisation by 2050. Increasing LNG imports from reliable global partners is crucial for the EU's plan to fully eliminate reliance on Russian fossil fuels. The amount of pipeline gas imported from Russia dropped by 77% from 137 bcm in 2021 to 31.6 bcm in 2024.
The EU's 14th sanctions package against Russia targets LNG specifically. It prohibits new investments and the provision of services to LNG projects in Russia. Additionally, within 9 months, EU ports will be restricted from transshipping Russian LNG, and imports of Russian LNG to specific terminals not linked to the EU gas pipeline network will be banned.
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