Oil prices fall, LNG rises: EU energy imports down by 11.1% in 2025

Brussels – In 2025, the European Union imported 723.3 million tonnes of energy products (oil, liquefied natural gas, natural gas in the gaseous state, and coal), valued at 336.7 billion euros. Compared to 2024, imports fell both in terms of volume (-0.6 per cent) and value (-11.1 per cent), confirming a dual downward trend that has been ongoing since 2022: since that year, the value of the EU’s energy imports has fallen by 51.4 per cent compared to the initial 693.4 billion euros four years ago, whilst the volume has dropped by 14.9 per cent from 849.6 million tonnes in 2022. These figures are contained in a report published today (25 March) by Eurostat, the European statistical office, which attributes the much larger decline in import values than in volumes to the subsequent price drops after the peak at the start of the Russian invasion of Ukraine (February 2022).

Overall, in 2025, energy products accounted for 13.2 per cent of total EU imports, whereas in 2024 they were just over the 15 per cent threshold. The figures for individual energy sources, however, are not uniform: while oil, natural gas in the gaseous state, and coal imports all fell, those for liquefied natural gas (LNG) showed the opposite trend. In particular, compared with 2024, imports of oil from outside the EU fell by 17.8 per cent in value and 6.1 per cent in volume, and those of natural gas in the gaseous state fell by 5.3 per cent in volume, while rising by 3.4 per cent in value. The figures for LNG, on the other hand, are both positive: +35.2 per cent in value and +24.4 per cent in volume. According to Eurostat, these trends demonstrate “the gradual shift towards LNG as a substitute for natural gas in the gaseous state: a growing popularity that can be explained by factors such as ease of transport, greater efficiency, and more sustainable use compared to other energy sources.” 

The report also provides an overview of the main suppliers to the EU in 2025. Starting with oil, the top three positions are held by the United States (15.1 per cent), Norway (14.4 per cent), and Kazakhstan (12.7 per cent). Lower but still significant shares were recorded by Libya (9 per cent), Saudi Arabia (6.5 per cent), Nigeria (5.9 per cent), and Iraq (5.2 per cent). The US was also the leading supplier of LNG in 2025, accounting for over half of Europe’s supply of this energy source (56 per cent) and far outstripping Russia (13.9 per cent), Qatar (8.9 per cent), Algeria (6.6 per cent), and Nigeria (4.2 per cent). As for natural gas in the gaseous state, Norway retains the leading position it has held since 2022 (52.1 per cent of total imports to the EU). It is followed by Algeria (17.4 per cent), Russia (10.4 per cent), the United Kingdom (9.1 per cent), and Azerbaijan (8.1 per cent). Finally, the “top 3” for coal are Australia (36 per cent), the United States (31.2 per cent), and Colombia (12 per cent). 

According to Eurostat, these figures demonstrate “the significant diversification of energy suppliers” initiated by Brussels following Russia’s invasion of Ukraine. The most decisive measures have been taken against Russian oil, with the imposition of an EU ban on seaborne imports of Russian crude oil from December 2022 and the embargo on refined oil products from February 2023. The report notes that as a result of these measures, “Russia is no longer among the 7 main partners,” after holding first place until 2021. The data, in fact, show a significant drop in imports: from 25.9 per cent at the start of 2022 to 1.4 per cent in the final quarter of 2025. The European ban on coal imports from Moscow has also had a significant impact, with Australia and the United States becoming Brussels’ new main partners. As for natural gas in the gaseous state, Eurostat points out that “from 2022 to 2024, Russia’s share only showed minor declines because of a few EU countries’ temporary exemptions due to infrastructure limitations preventing a rapid shift to alternative suppliers.” This would explain why Russia remains Europe’s third-largest supplier in this sector, although “the share is expected to decrease further, following the EU roadmap launched in May 2025 to phase out gas imports by 2027.” Finally, the most complex case to manage is LNG. Eurostat notes that even though Russia’s share “decreased from 21.2% in the first quarter of 2021 to 12.7% in the fourth quarter of 2025…and the gap with the main partner [the US ed] widened considerably… Russia remained the EU’s second-largest supplier.”