Russian exports of liquefied natural gas (LNG) rose to8.7 million metric tons in the first quarter, up 4.3% from a year earlier, with a rise in supply to the European Union and less going to Asia, theKommersant daily reported on Monday citing Kpler data.
Russia has been cranking up supply of sea-borne super cooled LNG to compensate for a fall in pipeline gas exports to Europe, which hasdrastically reduced its energy reliance on Moscow following the start of the conflict in Ukraine in February 2022.
Russian LNG exports to Asia fell by 7% to 3.16 million tons, while supply to the EU increased by 4% to almost 5 million tons, the Kommersant reported citing Kpler. Around 550,000 tons were not nominated for a destination.
In March, according to Kommersant, the fall in exports to Asia was more pronounced – supplies to the region declined by 30% to 860,000 tons while exports to Europe edged by up 3% to 1.55 million tons. Some 470,000 were not nominated, it added.
According to LSEG data, Russian LNG exports were broadly stable at 8.1 million tons in the January-March quarter with supply to Asia down by almost 9% and deliveries to Europe up 4.3%.
Novatek NVTK.MM-led Yamal LNG and Gazprom GAZP.MM-controlled Sakhalin Energy are the two largest suppliers of Russian LNG.
Russian LNG, unlike oil, is not subject to Western sanctions.
Source: Reuters reported by Vladimir Soldatkin and Oksana Kobzeva and edited by Sonali Paul and Jason Neely
