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Energy

From oil to coal, the EU imported EUR 375.9 billion worth of energy products

The figure, however, is down from 2023, both in terms of value with -16.2%, and in terms of net mass with -7.1%.

by Davide Madeddu (Il Sole 24 Ore) and Ieva Kniukštienė (Delphi, Lithuania)

19 May 2025

3' min read

From oil to liquefied gas via coal. In Europe, imports of energy products totalling 720.4 million tonnes are worth 375.9 billion euros (in 2024).

However, the numbers, although significant and important, indicate a contraction compared to the previous year. Describing this scenario are the statistics of Eurostat which, when comparing 2024 and 2023, show a decline, both in value (-16.2%) and in net mass (-7.1%).

Oil and oil imports fall

"For oil, a decline was reported in both the value of imported petroleum oils (-4.7%) and the volume of imports (-2.4%)," reads the document summarising the data. "Imported liquefied gas also recorded a sharp decline in value (-39.1%) and volume (-15.1%) compared to 2023. A similar trend was observed for natural gas in its gaseous state, which fell by 30.2%, while volume fell by 4.4%'.

Ancora in calo il mercato dei veicoli commerciali

EU partners

In 2024, the EU's largest oil import partners were the US (16.1%) followed by Norway (13.5%) and Kazakhstan (11.5%).

The US supplied almost half of the imported liquefied natural gas (45.3%), ahead of Russia (17.5%) and Algeria (10.7%). "An important part of the natural gas in gaseous state came from Norway (45.6%)," it goes on to say. Algeria followed with 19.3%, ahead of Russia with 16.6%'.

The Energy Union Report

Reconstructing the EU countries' energy scenario is the State of the Energy Union Report 2024. "In recent years, the EU has succeeded in addressing critical risks to the security of its energy supply," it reads, "bringing the energy market and prices under control and accelerating the transition to climate neutrality. A review of the data shows that Russian gas imports have dropped from 45 per cent in 2021 to 18 per cent in 2024, while imports from 'trusted' partners such as Norway and the US have increased.

Italy's energy mix

In Italy, 77% of the energy system in 2021 depended on imports from abroad and 23% on domestic production. A fact underlined in the Italy for Climate report, which highlighted the strong imports from Russia until the start of the conflict in Ukraine. The situation has since changed. Italy imports products for energy production from Algeria, Azerbaijan, Libya, the USA, Qatar, Iraq and Saudi Arabia. As a study by Ispi shows, 2024 saw 'the effects of the sudden and traumatic abandonment of Russian gas, the country's main supplier, with substitution via LNG and via southern entry points' and also 'the strong reduction in demand, due to the competing pressures of decarbonisation of electricity generation, greater efficiency and macroeconomic contraction'.

Consumi ed export di olio d'oliva sopra le aspettative

The Lithuanian case: goodbye Russian energy and boom in renewables

Among the European countries that have made a decisive change of course in terms of energy supply is Lithuania. Since 2022, Vilnius has completely stopped importing gas, oil and electricity from Russia, focusing on a strategy of energy independence based on diversification and the development of renewables. The turnaround involved infrastructure such as the Klaipėda LNG terminal, which allows the import of gas from various suppliers, including the United States, and interconnectors with Poland and Finland. In 2024, about 70 per cent of Lithuanian electricity will come from renewable sources, with the goal of reaching 100 per cent by 2030.

Over the past few days, Lithuania's electricity system has recorded significant results: in the week of 12-18 May, the country covered 94% of its needs with domestic production, thanks mainly to wind power. At the same time, the wholesale price of electricity dropped from EUR 91.1 to EUR 62.8/MWh, lower than both the European weekly average for 2024 (EUR 70.2/MWh) and 2023 (EUR 78.5/MWh). Infrastructure investments and EU funding, such as the EUR 194 million allocated by the REPowerEU plan to enhance the resilience of the national energy system, also contribute to support the path to autonomy.

* This article is part of the European collaborative journalism project "Pulse"..