Spain Was Europe’s Second Biggest Buyer Of Russian Gas In 2022

Statistics show that last year Spain increased its dependence on Russian gas, despite their invasion of Ukraine.

Figures have been released which show Spain was the second largest buyer of Russian liquefied natural gas (LNG) in Europe during 2022, with 3.72 million tonnes, a 51 per cent increase over the previous year, according to OK Diario, Friday, July 14.

International Gas import Figures

The International LNG Importers Group, which brings together the main importing companies, such as Naturgy or Iberdrola, released its annual report this Friday. Spain came second behind France, which imported 5.24 million tonnes, compared to 3.59 million a year earlier

France and Spain were also the ones that saw the most increased imports by ship, despite the political will expressed to reduce dependence on hydrocarbons from Russia due to the war in Ukraine.

Meanwhile, the United States was by far and away the leading exporter of LNG to Europe. It sold 51.74 million tonnes in 2022, compared with 21.47 million tonnes the previous year. Second place, just ahead of Russia, went to Qatar, which exported 18.72 million tonnes to Europe, compared with 15.99 million tonnes in 2021.

Political Tension Result in Reduced Imports

Algeria lost ground to its fellow LNG exporters to Europe in 2022. This has been attributed mainly due to the reduction of its supplies to Spain. Algeria’s exports fell from 1.55 million tonnes to 0.36 million tonnes, a reduction of 76.7 per cent.

The reason for this has been put down to a political conflict with Madrid over its breakdown of harmonious relationships with Morocco in the Western Sahara dispute.

Another African country, Nigeria also saw its market share fall in Europe, its total exports were 8.59 million tonnes in 2022. Despite this, Spain increased its imports from Nigeria with 4.08 million tonnes of LNG, compared to 3.13 million in 2021.

Worldwide, the United States last year made up almost half of the additional LNG volumes traded on the international market with 8.4 million tonnes out of a total of 16.9 million tonnes. Russia was the world’s third-largest exporter, with 32.07 million tonnes and an increase of nearly 10 per cent. Its share of the total global LNG market was 8.2 per cent.