Russian LNG exports increased significantly in 2024: supplies to Asia and Europe helped - media

A significant increase in the supply of reduced natural gas from Russia was driven by demand in Asia (due to the heat wave) and Europe. UNN writes with reference to roszmі.

In the period from January to August 2024, Russian LNG exports increased by 5.7% to 21.76 million tons. At the same time, last month it increased by 33% year-on-year, to 2.94 million tons.

According to Kommersant (based on information from Kpler), a significant increase in August 2024 “was provided by supplies to both Asia, where demand for LNG is growing due to the heat, and Europe.” However, analysts attribute the growth not to the market situation but to a technical factor. The fact is that in the summer of 2023, a large volume of Russian LNG facilities were undergoing repairs.

The publication also indicates that Russian LNG exports in August rose to the highest level since January - 2.94 million tons. This is a 33% year-on-year increase.

In January-August, LNG shipments increased by 5.7% year-on-year to 21.76 million tons. 

Recall

UNN reported that due to the US sanctions , the Chinese company Wison New Energies ceased its operations in Russia and refused to supply modules for the Arctic LNG 2 project to Novatek, which forced the project to delay gas exports from the first production line.