Latest News

Data shows that Russian LNG exports dropped 4.5% on an annual basis between January and July.

LSEG's preliminary data on Friday showed that Russia's liquefied gas exports in January-July of this year fell by 4.5% compared to a year ago, reflecting the effect of international sanctions imposed over Ukraine. Because of the conflict in Ukraine the United States has placed sanctions on the companies and vessels that are linked to Russia's Arctic LNG 2 plant. This effectively freezes the project as Moscow is unable to find buyers.

According to LSEG, Russia's LNG exported in July were down 5% year-on-year at 1.9 millions tons and 11.2% less than they were in June of this year.

In July, Russian LNG supplies to Europe fell by 20.6% on an annual basis to 850,000 tonnes.

Novatek's Yamal Gas plant reduced total exports by 10.4% on an annual basis in July to 1,29 million tonnes. The plant's deliveries in July were the lowest since December 2023. Exports of Yamal LNG decreased by 1.8% since the start of the year to 11 million tonnes.

Two shipments from the Arctic LNG 2 Project were recorded in July. According to LSEG the tankers are still at sea, with a 0.14 million-ton load. Sakhalin-2 (controlled by Gazprom) increased its exports in July to 590,000. This is up from 280,000 tonnes a year earlier.

The project has seen exports increase to 5.6 millions tons from 5.2 in January-2024. Barbara Lewis, Barbara Lewis (Reporting)

(source: Reuters)