Yamal LNG Project

operational

The Yamal LNG project is a liquefied natural gas production facility controlled by NOVATEK in Russia. European countries have sharply increased their purchases of LNG from this project ahead of new EU restrictions. In the first half of 2026, EU countries purchased 9.89 million tons of LNG from Yamal LNG, an 18% increase compared to the same period last year. The total value of these supplies could amount to about €6 billion. The largest European buyers were France, Belgium, and Spain. EU rules currently prohibit the purchase of Russian LNG under short-term agreements, requiring long-term agreements with customs confirmation for each batch. A ban on long-term imports of Russian LNG is expected to come into force in the EU from January 1, 2027, prompting the current increase in purchases before the new restrictions.