Stockpiling ahead of the ban taking effect! EU's Russian LNG imports in the first half of the year hit a record high

According to a report by the British Financial Times on July 13, to stockpile during the window period before the EU's ban on Russian gas officially takes effect, EU countries' imports of liquefied natural gas (LNG) from Russia's Yamal project in the first half of this year reached a record high.

Statistics from market firm Kpler show that from January to June 2026, the EU's cumulative imports of LNG from Russia's Yamal project reached 9.89 million tons, a significant year-on-year increase of 18%, corresponding to a total procurement value of approximately 6 billion euros. By country, France, Belgium, and Spain were the core importers, with first-half import volumes reaching 3.6 million tons, 2.9 million tons, and 2.7 million tons respectively.

On the policy front, the EU has banned imports of Russian LNG via short-term contracts since April this year, but long-term contract imports are not restricted and can continue until a formal and comprehensive ban takes effect on January 1, 2027. This is also the core policy reason for the EU's concentrated stockpiling and the counter-trend surge in import volumes.