In a recent increase, both France and Spain have significantly ramped up their imports of Russian Liquefied Natural Gas (LNG). According to the Center for Research on Energy and Clean Air (CREA), Spain’s imports surged by 27%, while France’s grew by 18% in December.
Russia’s LNG Export Trends in December
This shift occurred amidst a broader decline in Russia’s fossil fuel revenues, which fell by 2% month-on-month to €500 million daily. This figure stands as the second-lowest since the onset of the Ukraine conflict. Despite the overall decline, specific LNG and gas exports demonstrated notable resilience.
- Russian LNG revenue increased by 13% to €48 million per day.
- Export volumes of LNG rose by 16% to a record high level for 2025.
- Pipeline gas revenues jumped 17% to €70 million per day.
EU’s Role in Russian LNG Imports
The European Union (EU) continues to be a major buyer of Russian LNG and pipeline gas, constituting nearly half of LNG purchases and 35% of pipeline gas imports. This dependency highlights Europe’s ongoing ties to Russian energy sources.
Impact of Oil Revenues on Russia’s Economy
In contrast to gas revenues, Russia’s crude oil export revenues saw a significant decrease of 12% month-on-month. The decline in seaborne crude revenues was particularly notable, falling by 16% to €139 million daily due to reduced export volumes.
Regional Insights on Fossil Fuel Imports
In terms of individual countries, Hungary emerged as the fourth-largest buyer of Russian fossil fuels in December. The five major EU importers—Hungary, France, Belgium, Spain, and Slovakia—combined to pay approximately €1.4 billion to Russia.
Risks Associated with Russian Energy Exports
CREA also pointed out risks linked to Russia’s increasing use of its ‘shadow fleet.’ In December, 132 shadow tankers, which are often old and inadequately insured, were deployed for transporting crude and oil products.
- Potential environmental damage costs could exceed €1 billion.
- The risks in coastal countries increase significantly due to these shipping practices.
Future of Russian LNG in the EU
In December 2022, the EU committed to halting Russian LNG imports by 2027. Despite this pledge, importing patterns indicate a continued significant flow of Russian gas into Europe.
As the energy landscape evolves, the persistence of Russian LNG imports by countries like France and Spain raises questions about the EU’s energy policies and its strategies to reduce dependency on Russian energy sources in the future.
