EU Fossil Fuel Imports Dip as Renewables Shield Europe from Gas Shocks

IEEFA finds EU LNG imports fell 1.2% year-on-year from March to May 2026 as renewables blunt fossil-fuel shocks from the Iran war, though Germany surged LNG by 72% and the UK cut imports by 20% (the two trends offsetting). From March–May, US LNG accounted for about 60% of EU imports, with increases also from Algeria, Russia and Norway. The war has left roughly a €60 billion energy bill for the bloc, with less than €2 billion spent on electrification, but solar and wind growth—and rising electrified heating/transport—are reducing exposure, as Spain reached about 75% low-carbon electricity in 2025 (EU average 71%).