“The country has made significant progress in reducing its dependency on Russian energy, although additional efforts are still required, as Portugal continues to import energy from Russia to some extent,” states the European Commission.
In a chapter on Portugal in the annual report on the state of energy, the European Commission adds that “Portugal has strengthened the security of its gas supply, limited its dependence on energy imports, and increased the share of renewable energies in its energy mix.”
With the European Union’s tightened sanctions on Russia, imposing a total blockade on imports of Russian LNG starting January 1, 2027, Portugal is among the eight member states that will need to find alternatives.
The country still imports LNG from Russia, though in relatively small proportions.
In 2024, Portugal imported about 49,141 GWh (gigawatt-hours) of natural gas, of which approximately 96% was LNG. Of the total LNG, about 4.4% originated from Russia.
The Russian share in Portugal’s LNG imports dropped from around 15% in 2021 to 5% in 2024.
In the report published today, the European Commission notes that “in the gas sector, in particular, Portugal achieved a substantial reduction in imports compared to the period before Russia’s invasion of Ukraine.”
“Specifically, Portuguese imports of LNG from Russia decreased from 0.740 billion cubic meters in 2021 to 0.233 billion cubic meters in 2024. This reduction is the result of Portugal’s intensified efforts to diversify its energy supply, focusing on the prioritization of LNG imports from alternative sources, such as the United States and Nigeria,” the European Commission specifies.
The document also notes that last year, electricity prices in Portugal increased, while gas prices decreased.
“Overall, energy prices remained below the European Union average, except for the retail gas prices for households, which were 11% higher than the EU average,” it specifies.
With renewables accounting for 85.2% of Portugal’s energy mix, the European Commission indicates that “wholesale electricity prices in Portugal averaged 63.3 euros per MWh in 2024, representing the fifth lowest wholesale price in the EU compared to the European average of 84.7 EUR/MWh.”
Across the EU, it was reported that in 2024 compared to 2023, the EU reduced its greenhouse gas emissions by 2.5%, while spending 375.9 billion euros on energy imports, according to this report released today by the European Commission.
