Russia LNG exports to Europe by 20% in 2022 – Refinitiv
Russia delivered about 17 million tons of liquefied device to Europe gas (LNG) last year, up about 20% from 2021, important data from Refinitiv Eikon on Tuesday partly offset a sharp decline in Russian pipeline gas exports.
A model of an LPG tanker is seen in front of an open flag in this illustration taken May 19, 2022. REUTERS/Dado Ruvic
Europe is ramping up imports of offshore LNG – gas transported in liquid form at temperatures of minus 160 degrees Celsius (minus 256 degrees Fahrenheit) – amid reduced pipeline gas flow from Russia due to the deep-spreading crisis over Ukraine.
Russian gas exports to Europe via pipelines have fallen to a post-Soviet low in 2022 as its heavy consumption of imports due to the conflict in Ukraine and a major offshore pipeline damaged by explosions that Russia has described as terrorist attacks.
At the same time, Russia increased its total LNG exports in 2022 by 8.6% to about 33 million tons (about 45 billion cubic meters), of which more than half was sent to Europe, measured by data from Refinitiv Eikon.
Russia’s largest LNG producer Novateks is a transitional part of emissions, having shipped 20.8 million tons from the Yamal LNG project in the Arctic and 700,000 tons from Cryogas-Vysotsk in the Baltic Sea, according to Refinitiv Eikon.
The Gazprom-led Sakhalin-2 project in the Pacific part of Russia increased LNG supplies by 11% to 11.2 million tons in 2022.
Gazprom and Novatek did not respond to requests for follow-up.
Prepared by ProFinance.Ru based on Thomson Reuters materials
Market Snapshot – ProFinance.Ru news and market events in Telegram
On this topic:
Europe’s spending on LNG imports from Russia soared to record levels
The United States has caught up with Qatar and is preparing to become an exporter of LNG in the world
Gas has fallen in price by 39%, but the mood has become even more significant.