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Mikhelson says Europe could reconsider ban on Russian LNG
Novatek CEO Leonid Mikhelson said there was still an opportunity for Europe to review its ban on Russian liquefied natural gas imports. Mikhelson said shipments under long-term contracts could support European industry.
As the European Union’s schedule for gradually halting Russian gas imports remains in effect, Novatek CEO Leonid Mikhelson said Europe could reconsider its ban on Russian liquefied natural gas (LNG).
Speaking to journalists on the sidelines of the Verona Eurasian Economic Forum in Istanbul, Mikhelson said Europe needed to support its own industry. Mikhelson said Russia was having no difficulty redirecting its LNG shipments to other markets, adding that Europe still had an opportunity to change its decision.
Exception for long-term contracts
Mikhelson said the European Union’s 21st sanctions package allowed European companies with long-term contracts to continue working with Russia. He said the same provision also applied to companies carrying out logistics operations under those contracts.
Mikhelson said these companies could transport Russian gas to other markets, adding that it should be assessed whether a similar arrangement could be maintained for the European market.
Schedule for banning Russian gas imports
The Council of the European Union approved in January a regulation providing for the gradual phaseout of imports of LNG and pipeline natural gas from Russia.
Imports of Russian LNG under short-term contracts were banned on April 25, 2026. The ban on long-term LNG contracts will begin on January 1, 2027.
The ban on Russian gas imports under short-term pipeline contracts will take effect on June 17, 2026, while the ban on long-term contracts will enter into force on November 1, 2027.
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