Spain to reject Russian LNG despite its companies’ contracts — foreign minister

Spain to reject Russian LNG despite its companies’ contracts — foreign minister Spanish Foreign Minister Jose Manuel Albares noted that Madrid would comply with the relevant restrictions previously adopted by the European UnionWASHINGTON, September 23. /TASS/. The Spanish authorities intend to ban imports of Russian liquefied natural gas from January 1, 2027, despite existing contracts held by Spanish companies for supplies of Russian energy resources, Spanish Foreign Minister Jose Manuel Albares said. Speaking at the Atlantic Council in Washington [recognized as an undesirable organization in Russia], he noted that Madrid would comply with the relevant restrictions previously adopted by the European Union. "In fact, these sanctions could not have been introduced without Spain’s consent, as some Spanish companies have existing contracts. As you know, LNG supply contracts are concluded years in advance. These are very long-term contracts. This is not something that can be decided at the last minute, which is why they remain in force for decades. We intend to comply with the requirements of the new sanctions," the minister said. He added that Spain has some of the largest LNG storage and processing capacities. "This also opens up opportunities for the rest of Europe. We can help them with LNG supplies from reliable partners, such as the United States," the Spanish foreign minister said. EU ban on Russian gas On January 26, the EU Council finalized a complete ban on Russian LNG supplies to the EU effective January 1, 2027, and on pipeline gas from September 30, 2027. The ban on LNG imports under short-term contracts came into effect on April 25, 2026, while short-term pipeline gas contracts were set to expire by June 17, 2026. Meanwhile, Russian President Vladimir Putin stated that, given the EU’s intention to completely phase out Russian gas, Russia could prematurely exit the European market on its own initiative and redirect supplies to other, more interested buyers. Russian Deputy Prime Minister Alexander Novak announced that Russian companies would soon redirect a portion of LNG supplies from Europe to friendly nations, including China, India, Thailand, and the Philippines, without waiting for further EU restrictions. According to TASS calculations, Russia was the second-largest exporter of LNG to the EU by value in 2025, behind the US. Its share stood at 16.1% (or 16.2% of the combined value of LNG and pipeline gas purchases). In terms of volume, Russia accounted for roughly 14% of the EU’s LNG imports (12.1% of total gas supplies, including pipeline gas). Russia’s total supplies to Europe last year amounted to 38 billion cubic meters, with LNG accounting for just over 20 billion cubic meters. 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