Iran War Made Belgium Wholly Dependent on Russia for LNG in July

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessIran War Made Belgium Wholly Dependent on Russia for LNG in JulyBelgium became wholly dependent on Russia for imports of liquefied natural gas last month as the war in the Middle East caused a slump in supply to Europe.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.em}b7[8p45xlcnvv6gweixxa_media_dl_1.png Ship-tracking data compiled by B(Bloomberg) — Belgium became wholly dependent on Russia for imports of liquefied natural gas last month as the war in the Middle East caused a slump in supply to Europe. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountMost buyers on the continent have been holding off from purchasing LNG for winter stockpiling due to stubbornly high gas prices caused by the disruption to shipping through the Strait of Hormuz. While Belgium’s imports from Russia were also lower than earlier this year, the figures complicate energy policy in the European Union, which has imposed a ban on Russian LNG starting next year.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againOverall LNG flows to Belgium — Europe’s No. 5 importer of the fuel last year — tumbled more than 40% in July from a year earlier, according to ship-tracking data compiled by Bloomberg. The country purchased about 0.4 million tons of the fuel from Russia, the data show. It also receives pipeline gas from Norway and the UK. EU members should already be reducing their LNG purchases from Russia, with a prohibition on short-term deals in place since April before the full ban takes effect next year. Instead, volumes have jumped as buyers sought alternatives to supplies from the Middle East.Europe received 16% more Russian LNG in the first half of 2026 compared with a year earlier, paying €5.96 billion ($6.9 billion) in total led by France, Belgium and Spain, according to Urgewald, a German nonprofit. Russia remains the EU’s second biggest supplier of LNG after the US, and some industry watchers have already questioned the ban if supply disruptions from the Middle East continue. Europe’s low gas stockpiles for the upcoming winter — currently at the lowest seasonal level in records going back to 2009 — make the situation even more challenging. So far, officials in Brussels have said the plan to ban Russian gas next year remains in place. The 27-nation bloc last month granted an exception for transporting Russian LNG to third countries, easing risks for global shipments. The last time Russia was Belgium’s only LNG supplier was at the start of 2021, when European economies were just starting to recover from the Covid pandemic and before Moscow’s full-scale invasion of Ukraine. This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.