Russia Posts 11.5% Growth in LNG Exports from January to May, Data Shows
Overview of Russia's LNG Export Performance
Export Growth and Contributing Projects
MOSCOW, June 1 (Reuters) - Russia's exports of liquefied natural gas rose 11.5% in January to May from a year earlier, to 14.5 million metric tons, due to a ramping up of supplies from the new Arctic LNG 2 project, preliminary LSEG data showed on Monday.
Monthly Export Trends
In May alone, total Russian exports of LNG jumped 23% from a year ago to 3.12 million tons. According to LSEG data, this is the highest level of monthly shipments since December 2023, when a record monthly export of 3.2 million tonnes was recorded.
Arctic LNG 2 Project Impact
Supplies from Arctic LNG 2 reached 1.4 million tons in the first five months of this year, according to the data.
The project started production in December 2023 but was only able to deliver a first cargo to end-buyers in China last August due to U.S. sanctions over Ukraine.
Regional Export Destinations
Exports to Europe
Data also showed that Russian LNG exports to Europe in January to May jumped 16.7% year-on-year to 7.7 million tons. In May, they rose to around 1.36 million tons from 1.28 million tons a year earlier.
In January, EU countries gave their final approval to ban Russian gas imports by late 2027.
Exports from Major LNG Plants
Total exports from Novatek's Yamal LNG plant in the January to May period rose 1.2% year-on-year to 8.3 million tons.
Asia-oriented Sakhalin-2, controlled by Gazprom, exported 4.7 million tons in the first five months of the year, up from 4.6 million tons during the same period last year.
Reporting and Editorial Information
(Reporting by Reuters; Editing by Susan Fenton)
