EU Bets Big on Russian Gas Ahead of Ban

The European Union has increased its imports of liquefied natural gas from Russia's Yamal LNG plant ahead of a full ban on Russian LNG supplies under long-term contracts that takes effect next year. According to Euronews, between January 1 and September 5, the EU paid an estimated €7.28 billion for LNG from Russia's Arctic Yamal project, already exceeding the estimated €7.2 billion spent during all of 2025.

The data also shows that global exports from Yamal LNG declined by 3.1% during the same period. The European Union therefore absorbed an increasingly large share of the project's exports, with EU ports accounting for 88.9% of Yamal LNG exports during the first eight months of 2026, compared with 78.2% during the same period last year.

France was the largest European importer of Yamal LNG during this period, receiving about 4.4 million metric tons, followed by Belgium with 3 million, Spain with 2.7 million and the Netherlands with 1.1 million. Analyst Charles Costerousse at Kpler noted that most current shipments are being delivered under existing long-term agreements.