Russian LNG exports fell 4.5% year-on-year in January–July
Russia's exports of liquefied natural gas (LNG) in January–July this year declined by 4.5% from a year earlier to 17.1 MM tonnes (t), LSEG preliminary data showed on Friday, reflecting the impact of international sanctions over Ukraine.
The United States has imposed sanctions on companies and vessels linked to Russia's new Arctic LNG 2 plant because of the conflict in Ukraine, effectively freezing the project due to the difficulty for Moscow in finding buyers.
In July, Russia's LNG exports were down by 5%, year-on-year, at 1.9 MMt, and were 11.2% lower than in June this year, according to LSEG data. Russian LNG exports to Europe in January–July declined by 14.7% year-on-year to 8.7 MMt, while supplies in July in this direction fell by 20.6% to 850,000 t.
Novatek's Yamal LNG plant cut total exports in July by 10.4% year-on-year to 1.29 MMt. In July, deliveries from the plant were at their lowest since December 2023. Since the beginning of the year, exports from Yamal LNG have decreased by 1.8% to 11 MMt year-on-year.
In July, two shipments were recorded from the Arctic LNG 2 project (learn more). According to LSEG, the tankers remain at sea with a load of 140,000 t.
Sakhalin-2, controlled by Gazprom, increased exports to 590,000 t in July from 280,000 t a year ago. Exports from the project rose to 5.6 MMt year-to-date from 5.2 MMt in January–July 2024.
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