The European Union reported a decline in both the value and volume of petroleum imports during the first quarter of 2025, according to the latest data released by Eurostat, the statistical office of the European Union. The figures reveal a continued shift in the region’s energy import patterns, marked by reduced petroleum shipments and a notable rise in liquefied natural gas (LNG) imports. Between January and March 2025, the EU imported €95.3 billion worth of energy products, totaling 176.4 million tonnes.
This reflects a marginal increase of 0.3% in the overall value of energy imports compared to the same period in 2024, while the total volume of imports declined by 3.9%. Within this broad category, petroleum imports experienced significant decreases on both fronts. Year-on-year data for the first quarter highlights an 11.9% decline in the value of imported petroleum, accompanied by an 8.0% reduction in volume. The decrease underscores ongoing efforts by EU member states to diversify energy sources and reduce reliance on conventional fossil fuels amid evolving market conditions and energy security concerns.
In contrast to petroleum, imports of liquefied natural gas saw sharp growth. The value of LNG imports rose by 45.3%, while the volume increased by 12.1% compared to the first quarter of 2024. This reflects a strategic pivot toward LNG as an alternative energy source, driven by both supply diversification efforts and competitive pricing. The import figures for natural gas in its gaseous state present a mixed picture. The value of these imports increased by 19.0%, yet the overall volume declined by 12.1%.
EU energy imports decline in petroleum, surge in LNG
This suggests a rise in unit prices, likely influenced by global market dynamics and fluctuations in demand. Comparisons of monthly averages in the first quarter of 2025 with the full-year averages from 2024 further reinforce these trends. Petroleum oil imports decreased by 9.4% in value and 7.1% in volume. Meanwhile, LNG imports surged by 55.0% in value and 24.7% in volume. Imports of natural gas in a gaseous state rose by 6.4% in value but dropped by 13.8% in volume.
The United States remained the EU’s leading source of petroleum oil imports, accounting for 15.0% of total import value, followed by Norway at 13.5% and at 12.7%. For LNG, the United States supplied over half of the EU’s imports, representing 50.7% of the total value, with Russia and Qatar contributing 17.0% and 10.8%, respectively. Norway was the primary supplier of natural gas in gaseous form, delivering 52.6% of imports, followed by Algeria at 19.4% and Russia at 11.1%. – By MENA Newswire News Desk.