WEMO 2025 (complet) - Flipbook - Page 11
W E M O 202 5
O U T LO O K
48https://vleva.eu/storage/1459/COM(2025)-440-final_Roadmap-towards-ending-Russian-energyimports.pdf
49https://www.highnorthnews.com/en/eu-imports-more-russian-lng-2024-ever-mostly-arctic
50https://www.bloomberg.com/news/articles/2024-12-20/
europe-still-clings-to-russia-gas-with-record-lng-flow-this-year?embedded-checkout=true
51based on the conversion factor of 1 MTPA ≈ 1.38 bcm
52https://www.fitchratings.com/research/corporate-finance/
russian-gas-unlikely-to-return-to-europe-in-large-volumes-02-04-2025
53QatarEnergy is expanding LNG production capacity to 91bcm per annum by 2028 from 56bcm per
annum currently. US LNG export capacity will grow by 100bcm per annum during 2024-2028
800
49% higher than
the previous record
set in 2022
600
400
200
9,704
0
-200
2001
2005
2010
Solar
Wind
Hydro
54https://ember-energy.org/latest-insights/the-final-push-for-eu-russian-gas-phase-out/
55https://finance.ec.europa.eu/news/
eu-adopts-17th-package-sanctions-against-russia-2025-05-20_en
2015
Other renewables
2020
Total renewables
56https://www.euronews.com/my-europe/2025/05/06/
eu-sets-2027-as-deadline-to-phase-out-all-russian-energy-including-lng
57Short -term contracts account for one third of Russian gas imports
2024
WEMO 2025
• EU is increasing sanctions against Russian gas: A 17th
EU sanctions package55 was adopted in May 2025, focusing
mainly on Russia’s “shadow 昀氀eet” of oil tankers. In addition,
the European Commission (EC) has proposed56 a roadmap to
phase out all Russian gas imports by the end of 2027, with
legal measures to ban spot contracts by the end of 202557.
Global renewables growth in 2024 was 49% higher than the previous record
10
By 2030, LNG capacity increases notably in the US and Qatar 53
could result in a gas supplies exceeding demand by 26%
triggering a price decrease.54
FIGURE 5
Annual change in electricity generation (TWh)
LNG48). However, this share of imports increased by 18% from
2023 due to higher Russian LNG imports ,49,50 driven by cheaper
spot market sales. Pipeline import from Russia decreased due
to Nord Stream closure, leaving Ukraine transit and TurkStream
as primary routes. In 2025, transit through Ukraine stopped.
Despite this transit restriction and the EU sanctions
on Russian oil and coal, the EU’s imports of Russian
fossil fuels reached €21.9 billion in 2024, exceeding the
€18.7 billion in EU financial aid provided to Ukraine.
In 2024, the U.S. supplied Europe with about 55bcm51 of
LNG supplies, (this accounted for 46% of Europe’s total
LNG imports52) replacing a large share of Russian gas.
