EU’s Russian Arctic LNG Bill Balloons to €8.7 Billion with 50 Days Until Import Ban - FINCHANNEL
Urgewald said 177 cargoes to Europe drove the bill higher as buyers kept taking Yamal gas despite curbs and rising prices.
- On Thursday, November 12, the NGO Urgewald reported the EU paid €8.7 billion for Russian Yamal LNG during the first 10 months of 2026, surpassing the total spent in 2025.
- Europe remains the leading buyer of Yamal LNG, receiving 81% of project deliveries by volume; 177 cargoes arrived at EU ports between January and October.
- October deliveries dropped 11% to 705,591 tonnes, yet estimated payments rose 2.6% as prices increased, according to Kpler shipping data analyzed by Urgewald.
- Sanctions campaigner Sebastian Rotters of Urgewald urged governments to "hold the line" on Russian energy, as a full ban on long-term contracts takes effect January 1, 2027.
- Winter ice restricts shipping routes, and losing access to European ports will force Russia to send gas on longer, more expensive voyages as logistical challenges intensify.
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11 Articles
EU’s Russian Arctic LNG bill balloons to €8.7 billion with 50 days until import ban - FINCHANNEL
The EU paid an estimated €8.7 billion for LNG from Russia’s Yamal project in the first ten months of 2026, according to new Urgewald analysis of Kpler data. With 50 days until the full EU ban on Russian LNG imports takes effect, the estimated bill has already exceeded the €7.2 billion estimated for the whole […]
In 2026, EU companies already spent an estimated EUR 8.7 billion on Russian LNG from the Jamal project, which shows new calculations available to SPIEGEL. Russia's money helps in the Ukraine war.
European energy companies spent a whopping €8.7 billion purchasing liquefied natural gas (LNG) from Russia in 2026, according to the latest data published by the Urgewald organization and obtained by Der Spiegel. The gas comes from the Arctic Yamal project, and the proceeds from its sale are being used to fund the Russian budget, supporting the military operations against Ukraine.
EU energy companies have purchased liquefied natural gas from Russia for €8.7 billion this year, the German weekly Der Spiegel reported. The proceeds from the sale of the gas are boosting Russia's war budget against Ukraine.
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