Russian LNG sales to Europe remain stable; Europe imported 13 million tonnes this year

Although Europe has reduced imports of Russian natural gas by pipeline, its imports of liquefied natural gas (LNG) remain stable. From January through the end of October this year, Europe bought around 13 million tonnes of Russian LNG. That represents a 2.3 percent decline compared with the same period last year, according to data from LSEG. The biggest buyers are Belgium, Spain and France.

Liquefied natural gas is not subject to the European sanctions imposed on Russia over Moscow’s invasion of Ukraine. Europe has no plans to include LNG in the sanctions in the short term.

However, Russia’s plans to expand global LNG exports could be complicated by sanctions imposed by the United States on the Arctic LNG 2 facility. The project is due to begin production at the end of this year.

According to LSEG data, Belgium imported 3.79 million tonnes of LNG from the Yamal LNG project through the end of October this year. The largest Russian LNG facility is controlled by Novatek, the country’s second-largest gas producer after Gazprom and its largest LNG producer. Spain imported 3.64 million tonnes of LNG and France 3.18 million tonnes.

The Yamal LNG facility exported 14.56 million tonnes of LNG this year. Of this volume, 11.54 million tonnes went to Europe and 2.44 million tonnes to Asia. The medium-sized Cryogas-Vysotsk facility, controlled by Novatek, exported around 600,000 tonnes of LNG, while Gazprom’s Portovaya facility exported around 860,000 tonnes.

Russian LNG exports to Asia fell to 10.4 million tonnes from January to October, down from 12.5 million tonnes last year. This represents a decline of almost 17 percent. Of that volume, 7.9 million tonnes were supplied by the Sakhalin-2 facility, controlled by Gazprom.