Sun, 14 Aug 2022

Top EU importer of Russian LNG revealed

RT.com
05 Jul 2022, 00:13 GMT+10

France purchased most of the short-term cargoes in April-May, according to energy researcher CREA

France is the largest importer of Russian liquified natural gas (LNG) this year globally, according to a new study by the Centre for Research on Energy and Clean Air (CREA). Data shows the nation's short-term purchases of LNG, crude oil, and oil products were worth around €900 million ($940 million) in April-May.

Belgium ranked second in terms of Russian LNG purchases.

"European buyers, in France, Belgium and the Netherlands, bought most of the short-term cargoes at a discount, buying LNG and crude oil on the spot market," the report said, adding, "These purchases take place outside of pre-existing contracts, therefore always representing an active purchase decision."

France receives nearly 17% of its natural gas from Russia through network connections with Germany. Last month, however, supplies to Germany via Russia's Nord Stream pipeline were slashed by 60% due to technical issues stemming from Western sanctions.

According to German newspaper Die Welt, France is currently experiencing problems in the energy sector. The work of many nuclear power plants in the country has been suspended while they undergo maintenance. At the same time, there are only four LNG terminals operating in the country.

For more stories on economy & finance visit RT's business section

(RT.com)

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