Russia becomes one of three largest gas suppliers to Europe

As of the first three months of 2024, Russia became one of the three largest suppliers of natural gas to the European energy market, Interfax reports with reference to Eurostat.

In January-March, Russia's share in the structure of European natural gas imports reached 17.3 percent. The main exporter of natural gas to the EU was Norway, which accounted for almost half (46.6 percent) of all foreign supplies. Algeria came second with 19.7 percent.

During this period of time, Russia also became one of the three largest suppliers of liquefied natural gas (LNG) to the EU. In the first three months of 2024, the Russian Federation accounted for 17.7 percent of the total volume of European LNG imports. The United States was the primary exporter (47.4 percent), whereas Algeria closed the top 3 with 9.9 percent.

At the end of the first quarter of this year, the total volume of energy imports to the EU fell by 10.4 percent to 183.8 million tons. In monetary terms, the figure decreased by 26.4 percent — to 95.5 billion euros.

At the end of the first half of 2024, Russia's pipeline gas exports to Europe increased by 27 percent to 15.4 billion cubic meters, the Vedomosti said citing data from Gazprom and the European Network of Gas Transmission System Operators.