Despite European sanctions and U.S. LNG, Russian gas is reaching pre-war market share in Europe. According to Kathimerini, it has surpassed it in Greece, where, over the first nine months of 2023, the share of Russian gas reached prewar levels. In September it reached an all-time high of 72%. While in 2022 Russian gas in the Greek market saw a reduction of 68.3% below the 2021 levels, falling to a mere 14%, it is now at the rate of 45% from January to September 2023.
Rather than just buying U.S. LNG, Europe is also buying cheaper Russian LNG. In the first seven months of 2023, Europe imports of Russian LNG increased by 40% compared to the same period in 2021, that is, before the Russian invasion of Ukraine. Russia is now the second largest exporter of LNG to Europe after the U.S., according to Global Witness, an international NGO.
