[HIGHLIGHTS] Europe increased its purchases of liquefied natural gas from Russia

Europe increased its purchases of liquefied natural gas from Russia. The EU has reduced its overall gas consumption.

But Moscow has become its second LNG supplier. Meanwhile, Europe's gas consumption in 2023 fell to its lowest level in ten years. In the two years since Russia invaded Ukraine, gas demand has fallen by 20% across the continent (EU, UK, Norway and Turkey). It fell to 452 billion cubic meters, below 2014 consumption. The continent's LNG consumption should reach its peak in 2025, predicts the IEEFA.