EU plans to reduce Russian oil and gas imports by 2027, looking to US and LNG

From Yahoo Finance: 2025-04-15 05:24:00

The EU plans to end reliance on Russian oil and gas by 2027, delayed due to uncertainties around US tariffs. Despite reduced Russian pipeline gas deliveries, the EU increased Russian LNG imports in 2024. Hungary opposes EU energy sanctions on Russia without alternative supplies. The US may increase LNG sales to the EU amid concerns about reliance on US gas.

Russia expects significant growth in natural gas production and exports, aiming for 293bcm by 2030 and 438bcm by 2050. Oil production is projected to remain stable at 540mt annually through 2050. US sanctions have impacted LNG deliveries from Russia’s Arctic LNG-2 plant, with exports expected to rise to 241bcm by 2050. Russian oil shipments through the Baltic Sea declined by 10% in late 2024 due to EU sanctions.



Read more at Yahoo Finance: EU to unveil detailed plan to cut Russian oil and gas imports next month