Russia's LNG exports fell 3% year on year in the first five months

Russia's exports of liquefied natural gas (LNG) fell 3% in the first five months of this year to 13.2 million tonnes. Preliminary data from LSEG cited by Reuters show this. Exports are being negatively affected by sanctions.

The United States imposed sanctions on companies and vessels linked to Russia's new Arctic LNG 2 facility over Russia's invasion of Ukraine. This effectively froze the project, as Russia is finding it difficult to secure buyers.

In May alone, Russian LNG exports were stable. They totalled 2.7 million tonnes, roughly the same as last year, according to LSEG data.

Russian LNG exports to Europe fell 12% year on year to 6.6 million tonnes from January to May. In May alone, deliveries declined 14.3% to 1.2 million tonnes. Sanctions on transshipment took effect in March.

Novatek's Yamal LNG plant cut total exports in May by 0.6% year on year to 1.61 million tonnes. Deliveries from the plant were stable over the five-month period, at 8.2 million tonnes.

Exports from the Sakhalin-2 project, controlled by gas company Gazprom, increased to 950,000 tonnes in May from 890,000 tonnes a year earlier. Since the start of the year, exports have risen to 4.6 million tonnes from 4.4 million tonnes in January-May 2024.

US President Donald Trump wants the European Union to buy more US LNG. He has promised that more will be available.

According to data from analytics company Kpler, Russian LNG exports rose 4% last year to a record 33.6 million tonnes. Europe accounted for 52% of total exports, receiving around 17.4 million tonnes. The largest buyers of Russian LNG were France, Spain, Belgium and the Netherlands. Of individual countries, China imported the most LNG, at seven million tonnes.