Daily Management Review

EU reduces energy imports in volume and money terms in Q1


According to EU statistical office Eurostat, the EU purchased 183.8 million tonnes of energy products worth €95.5 billion between January and March of 2024. Comparing the two, the former decreased by 10.4% and the latter by 26.4% year over year.

Ken Hodge
Ken Hodge
In terms of value, natural gas imports decreased by 56.8%, but shipments decreased by 11.7%. Regarding LNG, these numbers decreased by 54.1% and 11.4%, respectively.

Norway supplied 46.6% of the natural gas to the EU in the first quarter, with Algeria and Russia accounting for 19.7% and 17.3% of the total, respectively. The US imported 47.4% of the LNG, followed by Algeria (9.9%) and Russia (17.7%).

Between January and March, the volume of petroleum products imported fell by 0.9%, but their value grew by 0.4%. The United States (17.1% of the total amount) was the EU's top supplier, followed by Kazakhstan (10.9%) and Norway (13.6%).

source: ec.europa.eu