"Adopting the 14th sanctions package is one of the most important things," Swedish Foreign Minister Tobias Billstrom said when he arrived in Luxembourg for a ministerial EU meeting.
The European Parliament voted on April 11 to pass rules allowing member states to ban imports of Russian liquified natural gas (LNG), Reuters reported.
France has paid Russia 600 million euros ($644 million) for liquified natural gas (LNG) imports in just the first three months of 2024, making it the fastest-growing consumer of Russian LNG in the EU, Politico reported on April 11.
Russian gas producer Novatek is considering scaling back a major liquefied natural gas project due to the impact of Western sanctions, Reuters reported on April 4, citing sources in the industry.
The project is run by the private company Novatek, Russia's largest producer of LNG, which has a 60% share. The Chinese, French, and Japanese companies represented the remaining 40% of shares. The foreign companies all declared force majeure on the project.
Russia hoped to increase its share of the global LNG market from 8% to 20% by 2030, offsetting the economic impact of European sanctions on Russian pipeline gas exports.
SEFE, a former unit of the Russian Gazprom nationalized by the German government last year, reportedly continues to fulfill its legacy 20-year contract from 2018 to ship out Russian LNG from the Yamal facility.
The EU is set to import a record volume of liquified natural gas (LNG) from Russia this year, with Belgium and Spain in the lead, the Global Witness reported on Aug. 30.