Brussels, October 1, 2025 – The European Union paid an extra €930 billion for fossil fuel imports during the 2021–2024 energy crisis, according to Ember’s report “Shockproof: how electrification can strengthen EU energy security.”
“Imported fossil fuels are no basis for a secure and affordable energy system – something Europe has learned the hard way,” said Chris Rosslowe, Ember’s Senior Energy Analyst.
Imported fossil fuels still account for 58% of the EU’s energy needs, much more than other major economies such as China (24%) and India (37%). Despite reducing reliance on Russian supplies, new risks have emerged, as the EU’s overall fossil import share remains unchanged.
With the US now the top supplier of oil and LNG, and the top four gas providers controlling 81% of imports, this concentration invites manipulation. Qatar, the EU’s fifth-largest gas supplier, recently threatened to cut LNG unless environmental and labour rules were relaxed, while the US has leveraged energy in trade negotiations.
The economic toll is also staggering. Fossil imports cost €1.8 trillion during the gas crisis – €930 billion more than pre-crisis levels – as gas prices soared from €15/MWh to €350/MWh in 2022.
