Market Analysis – Updates
Recent statistics from the London Stock Exchange Group indicate that Russia’s liquefied natural gas (LNG) exports experienced a decline of five percent year-on-year in January, totaling 2.75 million tons. Additionally, month-over-month exports fell by ten percent.
The reduction in LNG exports is attributed to the ongoing challenges Russia faces in expanding its market presence amid U.S. restrictions resultant from the conflict in Ukraine. The Arctic L.G2 facility, a new project aimed at increasing LNG production, remains stalled due to difficulties in securing buyers, largely because of the comprehensive sanctions imposed by Western countries.
Data reveals that LNG shipments to Europe from Russia decreased by 17.6 percent on an annual basis, and by 22 percent from December, amounting to 1.4 million tons in January.
The Yamal LNG facility, operated by Novatek, reported a 5.6 percent decline in its January exports compared to the previous year, reaching 1.7 million tons. Supplies to Europe fell further, decreasing from 1.5 million tons in December to 1.2 million tons in January.
In contrast, the Sakhalin-2 project, managed by Gazprom, reported an increase in exports, with shipments totaling 960,000 tons in January, reflecting an eight percent improvement over the same month in 2024.
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