EU’s Dependence on Russian Gas is Increasing!

Gazprom’s Shipments to Europe in February Jumped 29.7% y/y (with 5 charts)

To assess the success of European efforts to shift away from Russian gas, the EOA issues a monthly tracker of the EU’s gas imports through pipelines from Russia, Azerbaijan, Norway, and North Africa (Algeria and Libya), as well as LNG cargoes from global players like the US, Qatar, and Nigeria. The tracker aims to highlight changes in the EU’s imported gas supplies and the extent of reducing dependency on Russia.

Gas shipments from Russian energy giant Gazprom to Europe (EU and Ukraine) decreased by 2.6% m/m in February. However, they jumped 29.7% y/y for the second month in a row since the beginning of 2024, reaching 2,373 million cubic meters (mcm), up from 1,829 mcm for the same period last year (Figure 1), based on the EOA’s calculations, and data from the European gas transmission platform (ENTSOG).  

Gazprom shipped 1,201 mcm of gas via Ukraine through the Sudja gas station on the Russian-Ukrainian border, out of which 73 mcm of gas was offloaded in Ukraine while the remaining volume of 1,128 mcm was shipped to the EU member states. Gazprom’s daily gas exports through the Sudja metering point slightly increased to 41.44 mcm in February, up from 40.8 mcm the previous month. These exports were also notably higher than the same period last year, the EOA calculated.

Meanwhile, the total gas volumes Gazprom shipped via the TurkStream pipeline passing through Turkey remained unchanged in February, totaling 1,171 mcm. In February 2023, total shipments stood at 870 mcm.