Daily Energy Report
EU LNG imports, US crude production decline, US tariffs on Russia, Venezuelan oil scramble, Smelters in crisis, IEA hides wind/solar issues, Minerals surging, AI boom bullish for LNG, and more.
March 29, 2025
Chart of the Day: EU Record LNG Imports from the US and Imports from Russia Decline
Reuters: Exports of Russian Pipeline Gas to Europe Down 19% in March Month-on-Month, Data Shows
Summary
In March 2025, Gazprom's daily natural gas exports to Europe via the TurkStream pipeline dropped 19.4% in February. TurkStream is now Russia’s only gas route to Europe after Ukraine ended a transit deal on January 1, 2025. First-quarter 2025 exports via TurkStream were 4.5 bcm, compared to 7.7 bcm in 2024. Russia’s total gas exports to Europe fell from 63.8 bcm in 2022 to 28.3 bcm in 2023, then rose to 32 bcm in 2024.
EU LNG imports hit a record high in March, per Kpler, with US imports also reaching an all-time peak as shown in Figure (1). The Figure shows trends in the EU’s LNG imports by country of origin.