In January, the Council of the European Union approved a regulation providing for a phased phase-out of imports of Russian LNG and pipeline gas. The ban on LNG supplies under short-term contracts takes effect on April 25, 2026, and under long-term contracts on January 1, 2027. Restrictions on pipeline gas will take effect on June 17, 2026 (for short-term contracts) and on November 1, 2027 (for long-term contracts).
“The EU should either postpone the ban on Russian liquefied natural gas planned for 2027 or risk becoming overly dependent on the United States,” the publication notes.
According to the port administration, in 2024, Russia accounted for more than three-quarters of the gas supplied to Bilbao. In 2025, this figure stood at 48%, while the U.S. share reached 49%. Between January and May 2026, the volume of Russian gas imports to the port rose to 59%, while the share of American gas fell to 40%.
“I think now is not the right time to reduce gas volumes supplied from Russia… Russian gas is of good quality… And in terms of price, it is usually cheaper than gas supplied from the United States,” Jiménez said.
According to him, reducing supplies from Russia could pose a challenge for the European Union. Until the ban takes effect, European importers will likely seek to import as much Russian gas as possible.
