Russian LNG exports fell 4.5% years-to-year in January-July, data shows

Russia’s liquid natural gas exports in January-July this year decreased 4.5% from the previous year to 17.1 million metric tons, the initial data of LSEG showed on Friday, reflecting the impact of international sanctions on Ukraine.

The United States has imposed sanctions on companies and ships related to Russia’s new Arctic 2 LNG factory due to conflict in Ukraine, effectively freezing the project because of difficulties for Moscow in finding buyers.

In July, Russian LNG exports fell 5%, years-to-year, 1.9 million tons, and 11.2% lower than in June this year, according to LSEG data.

Russian LNG exports to Europe in January-July decreased by 14.7% years-to-year to 8.7 million tons, while supply in July in this direction dropped 20.6% to 850,000 tons.

Novatek NVTK Yamal LNG Total Cut total exports in July amounted to 10.4% yoy to 1.29 million tons. In July, shipping from the factory was at the lowest point since December 2023. Since the beginning of the year, exports from Yamal LNG have declined 1.8% to 11 million tons of years.

In July, two shipments were recorded from the Arctic 2 LNG project. According to LSEG, tankers remain at sea with a load of 0.14 million tons.
Sakhalin-2, controlled by Gazprom Gazp, increased exports to 590,000 tons in July from 280,000 tons a year ago.

Exports from the project rose to 5.6 million tons of years and dated from 5.2 million in January-July 2024.
Source: Reuters