EU’s Russian Arctic LNG Bill Hits €8.7 Billion as Yamal Faces Shipping Challenge Come January
The European Union paid an estimated €8.7 billion for liquefied natural gas from Russia’s Yamal project in the first 10 months of 2026, exceeding the estimated total for all of 2025, as the countdown…
LNG carrier Vladimir Voronin off the coast of Honningsvåg on 15 April 2023. (Source: Courtesy of Kjell-Bendik Pedersen)
The European Union paid an estimated €8.7 billion for liquefied natural gas from Russia’s Yamal project in the first 10 months of 2026, exceeding the estimated total for all of 2025, as the countdown to a ban on Russian LNG imports enters its final weeks.
EU ports received 12.89 million tonnes across 177 cargoes between January and October, up 6.3% from the same period last year, according to an analysis by environmental group Urgewald using Kpler shipping data. Europe accounted for 81% of Yamal’s recorded deliveries, underscoring the project’s continued dependence on the market it is about to lose.
The estimated bill is around 21% higher than the €7.2 billion calculated for all of 2025. The figures are indicative estimates based on monthly benchmark gas prices and delivered volumes, rather than verified contract payments.
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