European Union Increases LNG Imports from Russia Amid Energy Crisis
The European Union has significantly increased its imports of liquefied natural gas (LNG) from Russia's Yamal LNG project, purchasing 97% of the project's global shipments in the first quarter of 2026. This amounts to 69 out of 71 cargoes, equivalent to 5.07 million tons. The EU's payments to Russia for these deliveries totaled $3.33 billion, reflecting a high energy bill exacerbated by a global spike in gas prices due to the Hormuz blockade. The benchmark price for natural gas in Europe rose by 51% in March compared to earlier months. Despite Russia's efforts to attract Asian buyers, Europe remains the primary market for Yamal LNG, supported by long-term contracts and logistical infrastructure. 
