The United States is by far the biggest supplier of liquefied natural gas to the European Union, accounting for 45.3% of EU imports in 2024, well ahead of Russia (17.5%) and Algeria (10.7%).
According to Eurostat data, the US is also the largest partner with the EU for petroleum oil, with 16.1% of petroleum oil imports coming from across the Atlantic, putting the US ahead of Norway (13.5%) and Kazakhstan (11.5%).
In terms of natural gas in a gaseous state, however, Norway is by far the biggest supplier to the European Union, accounting for 45.6% of imports. Algeria (19.3%) ranks second, followed by Russia (16.6%).
EU imports of energy products
Last year, the EU imported €375.9 billion worth of energy products, Eurostat’s data showed, a decrease of 16.2% in value and 7.1% in net mass compared to 2023.
In terms of petroleum, a decline was reported both in the value of imported petroleum oils (-4.7%) and in the volume of imports (-2.4%).
Liquified natural gas also saw a notable decrease in both value (-39.1%) and volume (-15.1%), year-on-year, while natural gas in a gaseous state reported a value decline of 30.2%, with volume dropping by 4.4%.
‘Until the end of 2021, Russia was the main supplier of petroleum oils and natural gas to the EU,’ Eurostat noted. ‘After Russia’s invasion of Ukraine, the European Union reacted with several packages of sanctions, which directly and indirectly affected the trade of oils and natural gas. A major diversification of suppliers started to emerge progressively in the following periods.’ Read more here.
