2024-08-07 10:07:23
Despite Europe’s attempt to pull back on energy purchases from Russia that help fund the Kremlin’s forces in its invasion of Ukraine that began in February 2022, imports of Russian liquefied natural gas to France more than doubled sharply in the first half of this year, according to a new analysis of data from leading economic institutions.
The European Union countries imposed restrictions on Russian oil imports, but they exempted natural gas from that.
While French companies import most of Russia’s gas, one analysis found that EU countries overall imported 7 percent more Russian liquefied natural gas — which has been cooled and liquefied to facilitate its sea transport — in the first half of this year than in the same period last year.
In the same context, Oleh Savitsky, an environmental expert and founder of the non-profit organization Razum We Stand – which seeks to impose tougher sanctions on Russian fossil fuels – said that the European Union’s goal of phasing out all Russian fossil fuels by 2027 is “frighteningly out of reach.”
“Countries that buy Russian LNG are sabotaging the continent’s transition to sustainable energy and contributing billions of dollars to Russia’s war effort,” he added.
The new analysis was released by the Institute for Energy Economics and Financial Analysis, a US non-profit organisation that aims to accelerate the world’s transition to more sustainable energy.
The institute analyzed data from shipping tracker Kepler and commodity data provider ICIS, both of which provided their own analysis.
The institute said French companies imported nearly 4.4 billion cubic meters of Russian liquefied natural gas in the first half of 2024, compared to more than 2 billion cubic meters in the same period last year.
He added that the largest importers after France are Spain and Belgium.
Paris is one of the main entry points for LNG into Europe. France and Spain have the largest number of LNG terminals in Europe, with 7 each.
Last updated: August 6, 2024 – 13:48
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2024-08-07 10:07:23