Belgium's Reliance on Russian LNG Surges Amid EU Ban Plans

Belgium's reliance on Russian liquefied natural gas (LNG) has become a pressing concern for the European Union, especially in light of the upcoming ban on Russian LNG. According to data from Bloomberg, Belgium imported approximately 0.4 million tonnes of LNG from Russia in July, which was more than any other month this year.

The country's dependence on Russian LNG is not unique; EU member states should be reducing their purchases from Russia ahead of the full ban coming into effect next year. However, instead of decreasing volumes, imports have increased as buyers sought alternatives to supplies from the Middle East, which were disrupted due to the Iran conflict.

The Strait of Hormuz has seen persistent disruptions in shipping, resulting in high gas prices for European consumers. This has led many to refrain from purchasing LNG for their winter reserves, further exacerbating Belgium's reliance on Russian LNG.