Portugal receives Russian gas shipment as EU import ban looms

Portugal has received a second shipment of Russian liquefied natural gas (LNG) this year, despite the European Union’s decision to ban all Russian gas imports from January 2027.

The cargo was unloaded on Sunday at the REN LNG terminal in Sines after the Yakov Gakkel completed a 10-day voyage from the Russian Arctic export terminal of Sabetta on the Yamal Peninsula, one of Russia’s largest LNG production hubs.

The delivery comes just six months before the EU’s full prohibition on Russian LNG enters into force, marking the end of a transitional period that has allowed existing long-term supply contracts to continue, despite sanctions imposed following Russia’s full-scale invasion of Ukraine in 2022.

According to Expresso, the Bahamian-flagged Yakov Gakkel, a nearly 300-metre LNG carrier built in South Korea in 2019 specifically for Yamal exports, is expected to return to Sabetta after leaving Portugal. The vessel previously delivered Russian LNG to Portugal in August 2022, months after the war in Ukraine began.

The identity of the importer behind Sunday’s shipment has not been disclosed. Neither the Port of Sines authority nor REN has identified the company responsible for the cargo. However, the Portuguese government has previously confirmed that the only long-term contract still supplying Russian LNG to Portugal belongs to Spanish energy company Naturgy.

Naturgy contract runs until 2041

Naturgy signed a long-term supply agreement with Yamal LNG in 2013, committing the company to purchase 38 terawatt-hours (TWh) of gas annually until 2041 under a “take-or-pay” contract, requiring payment whether or not the gas is ultimately taken.

The Spanish energy group said in its 2025 annual report that the agreement accounts for around 16% of its energy purchases, with outstanding contractual commitments worth approximately €11 billion.

French energy giant Total also has a long-term Yamal LNG contract running until 2032, although both companies will have to adapt their procurement strategies once the EU ban takes effect.

From January 2027, European companies will be prohibited not only from importing Russian LNG but also from purchasing it for resale outside the European Union.

Spain faces greater exposure

The EU ban is expected to have its greatest impact on countries that continue to rely heavily on Russian LNG, particularly Spain.

The port of Bilbao is currently Europe’s fourth-largest destination for LNG shipped from Yamal, behind Zeebrugge in Belgium and the French terminals of Montoir and Dunkirk.

Bilbao Port president Ivan Jimenez recently told the Financial Times that Russian gas imports should be phased out but warned the process could not happen “overnight”.

According to Spanish gas network operator Enagás, Russia supplied almost 28% of Spain’s natural gas imports in May, although Algeria remains the country’s largest overall supplier.

Spanish Energy Minister Sara Aagesen has insisted Europe must “completely break away from Russian gas” and said she believes ending imports from January 1, 2027 is achievable.

Portugal imported 3.3 TWh of Russian LNG during 2025, broadly unchanged from the previous year. While considerably below the 8.7 TWh imported in 2021, Russian supplies still account for almost 10% of the volumes covered by Naturgy’s Yamal contract.

The Sines terminal also received a Russian LNG cargo in February. Of the four LNG deliveries that month, one originated in Sabetta, two arrived from Nigeria and one came from the United States.

Between January and May this year, Portugal imported 20.9 TWh of natural gas. REN Datahub figures show Nigeria remained Portugal’s largest supplier with 50.5% of imports, followed by the United States (34.4%), pipeline gas from Spain (9.9%) and Russia (5.2%).

While Russian gas now represents only a modest share of Portugal’s energy mix, Sunday’s delivery highlights that Russian LNG continues to enter the EU under existing commercial agreements.

source: Expresso