The Eurostat website published statistics on the European Union’s energy imports in the fourth quarter of 2023. The European Union imported the equivalent of 187.9 million tons, or a value of $120.9; Which means that it reduced the quantity imported in this quarter by 11.7%.

Comparing 2023 to 2022, the value of energy in Europe saw a decrease of 35% while the volume saw a decrease of 9.4%. Natural gas in particular saw a decrease in value by 52.2% and its volume decreased by 16.1%.

The website also touched on the European continent's plan to reduce gas consumption by 15%, with this plan extending to March 31, 2024. The plan had been implemented since the beginning of August 2022.

Eurostat attributed the reason for the decrease in the volume of petroleum oils by 2.8% and the decrease in its import value to 17.2% to the decline in global prices of petroleum oils.

The European Union imports the largest amount of natural gas from Norway, at a rate of 53.4%, and the United States of America came in first place in supplying liquefied natural gas, at a rate of 49.4%.