EU’s Russian Gas Imports Surge 18% in 2024 – Czechia Among Key Contributors

A new report by the energy think tank Ember finds that imports of Russian gas to the EU surged by 18% in 2024.

Despite plans to phase out Russian energy by 2027, increased imports into Italy, the Czech Republic, and France drove the rise.

Although demand did not grow, imports increased. Moreover, the EU plans to enhance its liquefied natural gas (LNG) import capacity by 54%, with member states seeking alternative gas suppliers.

According to the think tank, this expansion occurs despite stable demand until 2030. Analysts warn that such expansion could result in overcapacity, with fossil gas supply expected to surpass demand by 26% in 2030.

“This level of overinvestment, amounting to 131 billion cubic meters, matches the combined annual gas consumption of Germany, France, and Poland,” reads the press release.

“It is a scandal that the EU is still importing Russian gas,” said Ember analyst Dr Pawel Czyzak. “Instead of investing in true alternatives like renewables and efficiency to cut off Russian imports, Member States are burning money with expensive LNG capacity that won’t even be used.”

The analysis reveals that after years of price volatility driven by the war in Ukraine, gas prices surged by 59% in 2024. As a result, the European gas price benchmark is around double the pre-crisis levels.

At the same time, the reliability of gas supplies from foreign sources other than Russia has become more uncertain.

Escalating geopolitical tensions raise concerns about depending on US supply, even as the US expands its LNG export capacity.

Although the EU has proposed funding foreign LNG infrastructure and entering into long-term LNG contracts to reduce reliance on Russian gas, this strategy could deepen dependence on potentially unreliable suppliers.

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