LNG exports on August January Russia fell 6.3%, data shows

Russia’s liquid natural gas exports in January-August decreased 6.3% from the previous year to 19.3 million metric tons, LSEG’s initial data showed Monday, reflecting the sharp decline in the Yamal LNG project.

LNG exports from Russia have also been detained by US sanctions for Ukraine, especially against the new LNG 2 Arctic factory, effectively freezing the project because of Moscow’s difficulty in facing buyers.

China received its first LNG cargo from the Russian project which was approved last week, data tracking ships from the KPler and LSEG showed, a few days before the meeting between Russian President Vladimir Putin and Chinese President Xi Jinping.

In August alone, Russian LNG exports fell 24.5% from year to year to 2.07 million tons, up 3% from July, LSEG data showed.

Russian LNG exports to Europe for January-August decreased by 16.8% from year to year to 9.4 million tons. In August alone, the decline was 38.5% year to year to 640,000 tons.

Novatek’s Yamal LNG cut total exports in August with 41% yoy to 1 million tons, which could be related to maintenance work. Delivery from the factory is at the lowest point since December 2023.

Since the beginning of the year, exports from Yamal LNG have declined 7.7% from year to year to 12 million tons.
Sakhalin-2 which is oriented to Asia, controlled by Gazprom, an increase in exports by 6.6% from year to year to 6.5 million tons for the January-August period.
Source: Reuters