Europe, once a major importer of Russian gas, has had to rethink its energy supply after imposing an embargo on the resource in response to the conflict in Ukraine. This redistribution of the market has opened the way to new players, who are now competing for the largest share of gas exports to the European Union.
A historic break with Russia
February 24, 2022 marks a decisive turning point with the intensification of the war between Russia and Ukraine. The Kremlin annexes Crimea, triggering a series of questions within the European Union, particularly on its dependence on Russian energy. From the first economic sanctions, Member States adopted measures to gradually limit their imports of oil, coal and gas from Russia.
However, reducing this energy dependence did not happen overnight. Some European countries were heavily dependent on Russian gas, making gradual measures necessary. Despite everything, since 2021, the share of Russian gas in European imports has decreased significantly, leaving room for new suppliers.
Who now exports gas to Europe?
The figures speak for themselves: in 2021, 150 billion cubic meters of liquefied natural gas were imported by the European Union, compared to 45 billion in 2023. If Russia remains present, it has gone from a key partner to a secondary actor.
Other countries have been able to benefit from this reorganization. The United States more than doubled its exports to Europe over the same period. Norway, already a historic supplier, has also increased its deliveries. In addition, the share of imports from the rest of the world has increased considerably.
-Today, the distribution of gas imports in Europe is as follows:
- 30% comes from Norway, which has become the continent’s leading supplier
- Nearly 20% of the United States, which has established itself as a key player
- Around 15% remain from Russia, despite the desire to reduce this dependence
- 14% comes from North Africa, with Algeria as the main supplier
- The remaining 20% is split between several countries, including the UK and Qatar
A redistribution still in progress
This reorganization of the European gas market is still evolving. On January 1, 2025, a new element could accelerate this transition: the expiration of the agreement between Russia and Ukraine concerning a key corridor for the export of Russian gas to Europe. Given the geopolitical context, it is unlikely that a new agreement will be concluded, making the delivery of Russian gas even more complex.
This new obstacle could further reduce Russia’s share of European imports and strengthen the role of new suppliers. Europe therefore continues to adapt to this new energy reality, where the diversification of supply sources becomes a strategic necessity.
Swiss
