ECONOMY

EU now far less dependent on Russian gas

EU now far less dependent on Russian gas

In the past year, the European Union has vastly reduced its dependence on Russian natural gas, replacing it mostly with liquefied natural gas (LNG), research shows.

The research, led by Piraeus University Associate Professor Yannis Maniatis, a former Environment and Energy Minister and socialist MP, shows that Russian gas accounted for just 11% of total EU gas imports in August 2022, compared to 39% in August 2021. Most of the reduction has occurred since May, when Russian imports still made up 26% of the total.

LNG imports have risen from 15% in August 2021 to 38% a year later, having peaked at 42% of the total in July.

The second largest source of gas is Norway, contributing between 25%-35% of the total, with the high in August 2022 and lows last March and April.

Natural gas from North Africa has made up 10-13% of imports throughout last year and Azerbaijan has contributed 3-4%.

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