Russia leading as gas supplier to Europe once again

Europe’s gas imports from Russia overtook supplies from the United States for the first time in almost two years in May, Financial Times reported.

The U.S. overtook Russia as a supplier of gas to Europe in September 2022, and has since 2023 accounted for about a fifth of the region’s supply.

But last month, Russian-piped gas and LNG shipments accounted for 15% of total supply to the EU, UK, Switzerland, Serbia, Bosnia and Herzegovina and North Macedonia, according to data from ICIS.

LNG from the U.S. made up 14% of supply to the region, its lowest level since August 2022, the ICIS data showed.

“It’s striking to see the market share of Russian gas and LNG inch higher in Europe after all we have been through, and all the efforts made to decouple and de-risk energy supply,” head of gas analytics at consultancy ICIS Tom Marzec-Manser said.