EU petroleum oil imports have experienced a significant decline in the first nine months of 2025, signalling a marked shift in the region’s energy consumption patterns. According to recent Eurostat data, the value of these imports dropped by 18.3 per cent compared to 2024, with the volume also decreasing by 6.6 per cent.
In stark contrast, liquefied natural gas (LNG) imports surged, with their value jumping by 36.1 per cent and volumes increasing by 25.9 per cent over the same period. This transformation in the energy landscape reflects the EU’s ongoing efforts to diversify its energy sources and reduce reliance on traditional petroleum products.
Petroleum oil: Shifts in Supplier Dynamics
As the EU navigates this transition, supplier patterns have emerged that highlight a growing dependence on a select group of partners. Norway has maintained its position as the largest supplier of petroleum oils, accounting for 14.6 per cent of imports, just ahead of the United States at 14.5 per cent. Kazakhstan follows in third place, providing 12.2 per cent of the total imports.
When it comes to LNG, the United States has dominated the market, supplying nearly 60 per cent of the EU’s imports in the latest quarter. Russia and Algeria also play significant roles, contributing 12.7 per cent and 7.7 per cent, respectively. This concentration of suppliers raises questions about the EU’s long-term energy security and sustainability.
Natural Gas Trends
The situation is more nuanced for natural gas in its gaseous form. Eurostat data indicates that while the value of these imports rose by 3.1 per cent, the volume declined by 4.9 per cent. This discrepancy suggests that rising prices, rather than increased demand, are influencing the market dynamics.
Norway continues to lead as the EU’s primary supplier of natural gas, meeting 51.8 per cent of the bloc’s needs. Algeria and the United Kingdom follow, with shares of 14.6 per cent and 13.4 per cent, respectively. This reliance on a few key players underscores the complexities of the EU’s energy strategy as it seeks to balance supply security with environmental goals.
Cyprus: A Unique Case
For Cyprus, the situation presents a different narrative. The island’s complete dependence on imported fuels is reflected in its national data. The Statistical Service of Cyprus (Cystat) provides insights into the country’s petroleum product sales, which serve as a proxy for import activity across various sectors, including transport and industry.
In 2025, Cyprus reported year-on-year increases in petroleum product sales during several months. For instance, June’s sales hit 140,669 tonnes, a 10.4 per cent rise compared to June 2024. July continued the trend with 144,790 tonnes sold, marking a 7.7 per cent increase. August saw a slight dip to 123,378 tonnes—a 1.0 per cent decline—before rebounding in September with sales of 144,720 tonnes, reflecting an 11.2 per cent increase.
October figures showed sales at 141,540 tonnes, up by 4.7 per cent from the previous year. Overall, Cyprus’s petroleum product sales for the first ten months of 2025 demonstrated a 4.7 per cent increase compared to the same period in 2024, indicating a growth in import-linked fuel volumes for the island’s economy.
Future Considerations
The evolving energy landscape in the EU, marked by declining petroleum oil imports and a robust increase in LNG purchases, poses significant implications for energy policy and market strategies. As the bloc aims for greater energy independence and sustainability, the reliance on a concentrated group of suppliers may require careful management and diversification efforts. The ongoing developments will be crucial in shaping the EU’s energy future and addressing the challenges of climate change and energy security.
