Russia has ceased to be a system-building supplier of natural gas to the European Union (EU), and the multi-year trend of its decline continues. Russian natural gas supplies are still significant, but they are no longer the basis of the European natural gas market, Trade Without Borders reports.

The main supplier of natural gas to the EU has become Norway, which accounts for 37.4% of all imports, with almost all of the amount being supplied by pipelines. Algeria ranks second among pipeline natural gas suppliers with a share of 12.5%, Russia accounts for another 6.7%, Azerbaijan—4.6%, and Libya—only a symbolic 0.1%.

However, in parallel with this, no miraculous energy transition has taken place. Europe has replaced the remaining amount of pipeline gas supplies primarily with liquefied natural gas (LNG), which already accounts for 38.7% of all imports. That is, almost two-fifths of the European market now depends on the availability of free tankers, regasification terminals, the situation on the global market, and competition with Asia for the same cargoes.

The main supplier of LNG has become the USA, which provides 22.1% of all EU gas imports. This is more than the share of pipeline gas supplies from Russia, Algeria, or Azerbaijan taken separately. At the same time, Russian LNG, despite all attempts to push it out of the European market, still accounts for about 6% of imports.