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Europe spends record 7.3 billion euros on Russian Arctic gas in just eight monthsPhoto by terski on Pexels
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Europe spends record 7.3 billion euros on Russian Arctic gas in just eight months

Euronews Portugal14 September 2026 at 07:46

Europe spent a record 7.3 billion euros on Russian Arctic gas in just eight months, according to data referenced in the article. This value represents a significant milestone in European energy imports from the Russian Arctic region.

Two European companies dominate the Arctic maritime transport network: Seapeak, originating from Scotland, and Dynagas, linked to Greece. These two companies control the majority of liquefied natural gas transport routes in the region.

Together, the ships operated by these two companies accounted for 72% of all natural gas exports from the Yamal project, demonstrating the central role they play in supplying Russian energy to Europe through the Arctic.

Why this matters

European consumers remain financially dependent on Russian energy supplies, even in the Arctic context, which has implications for the region's energy security and raises questions about compliance with sanctions and geopolitical commitments made by EU member states.

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