Spain Urges Firms To Not Renew LNG Contracts With Russian Suppliers

Spain is urging importers not to sign new LNG contracts with Russian suppliers as it aims to reduce Russian LNG imports according to sources.

• LNG importers in Spain received a letter from the government recommending that companies don’t sign up to new purchases from Russia. Spanish government’s request isn’t binding as there are no sanctions in place, and only refers to signing new contracts.
• Spain has almost doubled imports of Russian LNG since the outbreak of the war in Ukraine last year, and is Europe’s largest importer of Russian LNG.
• The European Union’s energy chief Kadri Simson earlier this month urged these shipments be stopped, saying companies should not renew long-term contracts once current contracts end.