OREANDA-NEWS By the end of 2024, Russia increased gas exports to the European Union to 54.45 billion cubic meters, which allowed the country to overtake the United States and become the second largest gas supplier to the association, according to an analysis by RIA Novosti of data from the analytical company Bruegel.

Thus, by the end of 2024, the European Union imported 297.9 billion cubic meters of gas, of which 54.45 billion were purchased from Russia. This is 21% more than the volume acquired in 2023 (45 billion cubic meters). As a result, Russia's share in the local market increased over the year to 18.3% from 14.2%.

The EU purchased more gas last year only from Norway – 93.3 billion cubic meters against 90.3 billion a year earlier. The country accounted for 31.3% of all gas imported by the EU, while a year ago it was 28.6%.

The United States, which was the second main gas exporter to the EU in 2023, reduced supplies by almost 18% in 2024 to 51.3 billion cubic meters and became the third. As a result, their share decreased over the year to 17.2% from 19.7%.

The European Union purchased significant volumes from Algeria, although they decreased slightly by 3% to 32 billion cubic meters. The association purchased 12.7 billion cubic meters of gas each from the UK and Azerbaijan, while purchases from the British decreased by 29% over the year, while those from the Azerbaijanis, on the contrary, increased by 2%.