Europe sets record for Russian LNG purchases in 2024

Europe sets record for Russian LNG purchases in 2024
Europe sets record for Russian LNG purchases in 2024

European countries bought a record volume of liquefied natural gas (LNG) from Russia in 2024, The Guardian reports, citing think tanks.

The import volume reached 17.8 million tonnes, an increase of two million tonnes compared to the previous year. The rise in purchases is attributed to falling prices caused by sanctions pressure on Russia. Currently, the cost of Russian LNG is lower than that of other suppliers.

According to data from the Centre for Research on Energy and Clean Air (Crea), the total import volume cost the European Union €7.32 billion.

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