Russia's liquefied natural gas exports gained over 4% in the first quarter of this year as it increased output to replace sanctioned pipeline gas exports to Europe
Russia ’s liquefied natural gas LNG exports gained over 4% in the first quarter of this year as it increased output to replace sanctioned pipeline gas exports to Europe, Russia ’s Kommersant newspaper reported on Monday. Citing a 4.3% 8.7 million metric ton increase in unsanctioned LNG exports in Q1 2024 based on data from Kpler, Kommersant.ru said exports to the European Union were rising, while those to Asia were declining.
In late March, Moscow moved to sell Shell’s minority stake in the Sakhalin LNG project to state-run Gazprom for $1 billion. Initially, Moscow was planning to give the stake to Novatek in the wake of Shell’s move to abandon the project after Western regimes sanctioned Russia for its invasion of Ukraine. According to Russian newspaper Vedomosti, Novatek has deemed its participation in the Sakhalin project to have high legal risks.
Russia Arctic LNG Novatek Gas Gas Exports
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