NEW YORK, February 21. /TASS/. Supplies of liquefied natural gas (LNG) from Russia to Europe gained 11% from 2021 to 2023, despite the gas demand drop on the continent by 20% in the same period, the Institute for Energy Economics and Financial Analysis says in the report posted on its website.

Supplies of Russian LNG surged by 11% from 2021 to 2023. The greatest increase was registered in Belgium and Spain, where imports of Russian LNG in the said period surged by a factor of three and two respectively. Spain, France and Belgium accounted for 80% of Russian LNG imported by Europe last year, according to the report.

Natural gas demand on the European continent plunged by 20% since the start of the Special Military Operation, according to IIEFA estimates. Gas consumption volumes plunged to their lowest over the decade in 2023 in Europe. This was driven in the first instance by the gas demand drop in Germany, Italy, and the United Kingdom, the report reads.