The European Union will impose a ban on imports of russian liquefied natural gas (LNG) starting April 25, 2026, Bloomberg reported.
The restrictions are currently in place on a short-term basis, primarily targeting spot market procurement. However, long-term supplies could continue through the end of the year. Analysts Wood Mackenzie Ltd. and Energy Aspects Ltd. estimate that the ban could cut russian fuel supplies by 2.8-3.5 million tons per year, or about 3% of the bloc's total LNG imports last year.
The restrictions come at a time of heightened tensions on the energy market, with base gas prices already up about 40% due to the Middle East conflict and the blockade of the Strait of Hormuz. Despite this, Europe currently has ample fuel supplies, including voluntary cuts to global demand. Although the season for pumping gas into underground storage has started slowly, EU officials have consistently stressed the inadmissibility of returning to energy dependence on moscow. However, experts note that in the event of a critical deterioration of the situation, the European Commission has the authority to declare a state of emergency and temporarily renew permission to purchase russian fuel on the spot market.
Bloomberg experts predict that next year the largest European energy suppliers, such as France's TotalEnergies SE, Spain's Naturgy Energy Group SA and Germany's SEFE, will be forced to permanently terminate their contracts with the aggressor. However, analysts warn that the European embargo will not completely eliminate russian LNG from the world market. In particular, the russian company Novatek, which is the main shareholder of the Yamal plant, is already actively reorienting its logistics chains and increasing efforts to sell energy in Asian countries.
As the Ukrainian News agency earlier reported, the US wants to supply liquefied gas to Ukraine and use Ukrainian gas storage facilities.
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