The US displaced Russia because the European Union’s second-biggest pure gasoline provider within the first quarter because of the expiry of imports of Russian pipeline gasoline through Ukraine in the beginning of the 12 months, the European Fee has reported.
The 27-member bloc imported a complete of 69 billion cubic meters (2.44 trillion cubic toes) of gasoline within the January-March interval, down two % quarter-on-quarter and year-on-year. Pipeline gasoline accounted for 55 % or 38 Bcm whereas liquefied pure gasoline (LNG) contributed 45 % or 31 Bcm, in line with the Fee’s newest quarterly gasoline market report.
The amount of EU pipeline imports fell 14 % in opposition to the prior three-month interval and 10 % in comparison with the primary quarter of 2024 because of the tip of the Ukraine-Russia transit deal. Alternatively LNG imports rose 18 % quarter-over-quarter and 11 % year-on-year.
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Norway remained the EU’s prime gasoline – gaseous and liquefied – provider, accounting for 31 % or 21.7 Bcm. U.S. volumes comprised 24 % or 16.6 Bcm, adopted by Russia at 14 % or 9.7 Bcm. North Africa got here fourth at 13 % or 9.2 Bcm, adopted by Qatar at 5 % or 3.2 Bcm and Azerbaijan at 4 % or 2.6 Bcm.
Russia’s share of complete EU gasoline imports dropped 5 proportion factors to 14 % quarter-on-quarter. Russian volumes, each pipeline and cargo, dropped 28 % in opposition to the prior three-month interval and 27 % in comparison with the primary quarter of 2024.
Russian pipeline gasoline imports decreased 45 % quarter-on-quarter to 4.6 Bcm and 39 % year-on-year.
“The gasoline market report confirms that additional progress was achieved within the diversification of EU gasoline provide away from Russia and the structural change in imports”, the Fee mentioned in a separate assertion.
Nonetheless, Russia was nonetheless the third-biggest supply of EU pipeline gasoline with a share of 12 % or 4.6 Bcm. It was overtaken at second place by North Africa, which has a 21 % share or 7.9 Bcm. Norway remained the EU’s greatest pipeline gasoline provider accounting for 55 % or 20.6 Bcm.
In the meantime Russian LNG imports have been virtually unchanged (5.1 Bcm, +0.6 %) quarter-on-quarter and down 11 % year-on-year, retaining its place because the EU’s second-biggest LNG provider with a share of 16 % or 5.1 Bcm.
“This modification additionally additional accentuated the shift in the direction of extra LNG imports (45 % – relative to 38 % within the earlier quarter), whereas pipeline gasoline imports have been diminished (55 %, from 62 % in This autumn-2024)”, the assertion mentioned.
The U.S. remained the EU’s prime LNG provider, accounting for 53 % or 16.6 Bcm. Behind Russia was Qatar at 10 % or 3.2 Bcm.
Final month the European Fee proposed laws to cease the importation of gasoline, oil and oil merchandise from Russia by 2027, betting on world LNG and elevated regional infrastructure interconnectivity.
Elevated Demand
The EU consumed 119 Bcm within the first quarter, up eight % or 8 Bcm year-on-year, “indicating an finish of the continual contraction in European gasoline consumption skilled since 2021”, the report mentioned.
“Quarter-on-quarter, consumption elevated by 15 % (+16 bcm) reflecting the standard increased heating season consumption mixed with colder temperatures than within the earlier quarter”.
Home gasoline output was 8.6 Bcm, up 3 % quarter-on-quarter and year-on-year. The Netherlands remained the most important producer at 2.5 Bcm, adopted by Romania at 2.4 Bcm, Germany at 1 Bcm, Italy at 0.9 Bcm and Denmark at 0.8 Bcm.
EU gasoline storage amenities logged a mean quarterly fullness of 48 %, in comparison with 88 % within the fourth quarter of 2024 and 30 % within the first quarter of 2024.
“EU gasoline storage filling price was above the degrees in 2021 and 2022 (years characterised by gasoline provide disruptions), however decrease than the report excessive 2023 and 2024 filling charges, and under the 5-year historic common of 2016-2020”, the report mentioned.
Final month the European Council and Parliament reached a provisional deal on a proposal by the European Fee to increase a regulation requiring pure gasoline storage amenities be no less than 90 % full earlier than the winter season. Nonetheless, the settlement scraps the November 1 deadline and offers member states flexibility by permitting them to achieve the goal between October 1 and December 1.
Larger Fuel Costs
European wholesale costs averaged EUR 47 ($55) per megawatt hour within the first quarter of 2025, up 9 % quarter-on-quarter and 71 % year-on-year. The common value elevated from EUR 48 per mWh in January to EUR 50 per mWh in February earlier than falling to EUR 42 per mWh in March.
“The upward value motion (noticed already in This autumn-2024) continued, pushed by quickly drawn-down gasoline storage ranges mixed with decrease renewable manufacturing and geopolitical tensions”, the report mentioned.
“Asia displayed barely decrease LNG costs than Europe in January and February however turned dearer in March 2025”, it added. “On a quarterly common foundation, the Asian value low cost was 0.8 EUR/MWh. On a month-to-month foundation, Asian LNG was cheaper by 1.5 EUR/MWh in January and 1.0 EUR/MWh in February. Nonetheless, in March 2025 the worth on the principle European gasoline hub, the Dutch TTF turned barely decrease (-0.1 EUR/MWh) than the worth on the Asian JKM [Japan Korea Marker] benchmark”.
The EU common retail gasoline value elevated 6 % quarter-on-quarter and year-on-year to EUR 112 per mWh. Costs ranged from EUR 25 per mWh (Hungary) to EUR 184 mWh (the Netherlands).
“Retail costs continued the rise that began already within the fourth quarter of 2024”, the report mentioned.
“Yr-on-year, retail costs elevated in 13 EU Member States, whereas costs decreased in 6 Member States, with costs in 3 Member States (Latvia, Romania, and Slovakia) remaining primarily unchanged”, it mentioned. “The most important year-on-year value declines have been registered in Lithuania (-14 %), Eire (-9 %) and Czechia (-8 %). In some Member States retail costs displayed double-digit will increase in comparison with the primary quarter of 2024, the most important such enhance being registered in Germany (+28 %), adopted by Estonia (+27 %) and Greece (+24 %)”.
To contact the writer, e mail jov.onsat@rigzone.com
