The European Union (EU) imported more natural gas from Russia than from the United States between April and July, continuing a trend from the previous quarter. Recent data from Brussels-based think tank Bruegel revealed that the EU imported 13 billion cubic meters (bcm) of Russian gas in the second quarter of 2024, contributing to a total of 26 bcm for the year.
European utilities paid approximately €10 billion (~$11 billion) to Gazprom, Russia’s state-owned energy company. The transaction data suggests a direct benefit to Russian financial reserves. Meanwhile, imports of U.S. liquefied natural gas (LNG) declined to 9.5 bcm, totaling 22 bcm over the year so far.
Norway, which is a member of the European Economic Area (EEA) but not the EU, remains the bloc’s leading supplier of natural gas, but Russia has strengthened its role as the second-largest EU gas supplier.
The EU is enriching Russia despite the fact it is supposed to be assisting the U.S. in its support of Ukraine. The bloc claims it has supplied Kiev with $126 billion in aid since the start of the war, but it paid Moscow around $154 billion for Russian fossil fuels in just the first year of the Ukraine war, which began in February 2022. […]
— Read More: thenationalpulse.com
