EU Reports Decline In Both Value And Volume Of Imported Petroleum In First Quarter Of 2025

In early 2025, the European Union imported energy products valued at €95.3 billion, totalling 176.4 million tonnes. This represented a slight increase of 0.3% in value but a decrease of 3.9% in volume compared to the same period in 2024, as reported by Eurostat.

Year-on-year analysis for the first quarter revealed declines in both value and volume of petroleum imports, with reductions of 11.9% and 8.0%, respectively. Conversely, liquefied gas imports surged significantly, showing a 45.3% rise in value and a 12.1% increase in volume.

Natural gas imports in gaseous form saw a mixed trend; while their value rose by 19.0%, the volume fell by 12.1%. Monthly comparisons between the first quarters of 2024 and 2025 highlighted these shifts.

When comparing monthly averages from the first quarter of both years, petroleum oil imports decreased by 9.4% in value and 7.1% in volume. In contrast, liquefied gas imports jumped by 55.0% in value and increased by 24.7% in volume.

Imports of natural gas in gaseous form experienced a modest value increase of 6.4%, though their volume dropped by 13.8%. These figures illustrate significant changes across different energy product categories.

Main Import Partners

The United States was the EU's largest supplier of petroleum oils during this period, accounting for 15.0% of import value, followed closely by Norway at 13.5% and Kazakhstan at 12.7%. The US also dominated liquefied natural gas imports, contributing to over half (50.7%) of their total value.

Russia and Qatar were other key suppliers for liquefied natural gas, providing 17.0% and 10.8%, respectively. For natural gas in gaseous form, Norway was the leading source with a share of 52.6%, followed by Algeria at 19.4%, and Russia at 11.1%.

The data highlights shifting dynamics within the EU's energy import landscape during early 2025, reflecting varying trends across different types of energy products and their sources.

With inputs from WAM