Europe’s spending on Russian Arctic LNG reaches €7.28 billion before the 2027 ban

Imports rise during the transition

European buyers paid an estimated €7.28 billion for liquefied natural gas from Russia’s Yamal project between January and early September 2026, according to an investigation reported by Euronews. The total was approximately equal to the €7.3 billion spent during all of 2025. The comparison reflects both higher gas prices and increased cargo volumes rather than a simple surge in physical imports alone.

The underlying research counted 156 Yamal LNG cargoes carrying 11.39 million tonnes into European ports during the first eight months of 2026. That was 10.1% more volume than in the corresponding period of 2025. Separate shipping data cited by Euronews indicated that European destinations received nearly nine-tenths of Yamal’s global exports between January 1 and September 5.

France, Belgium, Spain and the Netherlands were identified as leading destinations. The shipping chain also relies heavily on specialised ice-class tankers connected to operators in Scotland and Greece. Those vessels can make relatively short journeys between the Russian Arctic and Europe, allowing them to return quickly before winter ice restricts direct voyages eastward toward Asian markets.

A legal phase-out with temporary exemptions

The trade does not mean the European Union abandoned its phase-out law. The EU regulation prohibits Russian LNG imports but temporarily protects qualifying contracts signed before the cutoff date. Short-term exemptions have already expired, while certain unamended long-term contracts remain permissible until January 1, 2027. Official EU guidance confirms that the remaining Russian LNG imports are scheduled to end at that point.

The timing creates an incentive for buyers with valid long-term agreements to take contracted volumes before the prohibition becomes comprehensive. It also exposes the tension between immediate supply security and the bloc’s objective of removing Russian energy from its economy. A disruption in Middle Eastern supply routes has added pressure to European gas prices, increasing the monetary value of cargoes even when the rise in tonnage is more modest.

What matters next is whether the January deadline is implemented without new exemptions and whether European ports stop supplying services essential to the Arctic fleet. Authorities will also have to verify cargo origins, contract dates and ownership structures. The current figures come from NGO and commercial shipping analysis; official law establishes the phase-out schedule but does not independently validate the €7.28 billion estimate.