France Just Did The Unthinkable, More EU Countries Follow Suit | No One Expected This!

France Just Did The Unthinkable, More EU Countries Follow Suit | No One Expected This!

#lng #gas #oil

France's spending on Russian LNG shot up to more than €600 million this year, showing how much it's depending on Russian gas. Even though the EU has cut back on Russian gas, it still relies on it a lot. Russia gives over 40% of the EU's gas imports, especially to countries like Hungary. More and more Russian LNG is coming into Europe.

The EU's plan to ditch Russian gas by 2027 is facing challenges. Even though there's been less Russian gas flowing into the EU since the Ukraine situation, a good amount still goes to countries like Hungary and Austria. Russia is making more LNG now, sending a ton of it to Europe. France's move to buy more liquefied natural gas (LNG) from Russia has caught a lot of attention and raised questions about the reasoning behind this strategic decision.

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One reason could be worries about keeping energy supplies safe and making sure there's enough variety in where their energy comes from. With France's nuclear power output dropping, they need to bring in more LNG, and Russia's a big supplier helping fill that gap.

It's not just about safety though; cost and how the market's doing also matter to France when they decide to buy more LNG from Russia. And politics can't be left out - France's relationships with other countries and what's happening in the region can affect their LNG choices too.

In 2022, France brought in 35.1 billion cubic meters of liquefied natural gas (LNG). Most of it came from the United States, with Russia coming in second. Overall, LNG imports shot up by about 99.7% in 2022 compared to the year before. France really upped its spending on Russian LNG, hitting over €600 million in the first quarter of 2024.

Even though Russian LNG only made up about 5% of the EU's total gas use last year, member countries shelled out more than €8 billion on it. France was at the front of the pack in both how much Russian LNG it brought in and how much that import grew in 2024, racking up a total of 1.5 million tonnes. France is shaking things up in its energy game, adding more renewable energy to the mix.

They're really pushing to get more renewables in there, showing they're serious about keeping things green and protecting the environment. While France has been big on nuclear power, they're also looking to balance things out with renewables to make sure their energy mix is stable and varied. They're not stopping there - France is cutting back on fossil fuels and moving towards cleaner energy options, all to help fight climate change.

And they're not just sitting back - France is getting creative with energy tech, investing in stuff like energy storage, smart grids, and digital solutions to blend different energy sources into the grid smoothly. France's energy strategy involves a combination of financial aspects and diversification efforts. They're looking at what makes sense financially, putting money into renewable energy, and keeping an eye on how the market is doing.

By focusing on cost, renewables, how the market's moving, and diversification, France is working towards an energy system that's strong, green, and meets what people need now and in the future. Europe is facing some big challenges right now when it comes to using less Russian gas, which makes it harder to get energy from different places.

Cutting off Russian natural gas supplies has made things even worse, causing a big energy crisis for the continent. Belgium isn't sure if they should stop getting Russian LNG through the EU, which shows they're relying a lot on Russian gas and it's not easy to change that.

Belgium has been bringing in more liquefied natural gas (LNG) from Russia, making up a big part of what they use. The uncertainty about stopping Russian gas imports shows they're trying to balance being safe with their energy and keeping up good relations with other countries.

In 2024, Belgium got about 4.8 million tons of Russian LNG, almost twice as much as what went to the Netherlands. Spain has also been getting a lot more Russian gas, making up a big part of what they bring in. The country wants the EU to get tougher on Russian LNG imports, but it's tricky managing energy deals in the region.

Spain relying more on Russian gas shows it's hard to switch to different energy sources and not depend so much on one supplier. Pushing for stricter rules on Russian LNG shows Spain is trying to keep its energy secure and steady, even with things changing in the world. In March 2024, almost 26% of Spain's gas imports came from Russian LNG.
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