Russia continues to export most of its LNG to Europe

Russia remained the second-largest exporter of LNG to Europe and shipped about 46% of its cargoes to the region in April, but export volumes were down 15% compared to March, at over 1.8 bcm.

Deliveries to Asia accounted for about 34% of all deliveries or 1.3 bcm, which is the same as in March. The remaining supplies, about 20% or 780 million cubic meters, were sent to an unknown destination.

In total, in April, Russia exported more than 3.9 bcm of gas as LNG, which is 1.5% less than in March, but about the same as in April last year. In just 4 months of 2024, LNG exports from Russia increased by 3.1% to 11.53 million tons or 15.9 bcm of gas.

Pipeline gas supplies from Russia to Europe in April, according to ExPro calculations, increased by 9.7% year-on-year and amounted to about 2.5 bcm. Of this amount, about 1.3 bcm were transit supplies through Ukraine and about 1.2 bcm were supplies via the Turkish Stream.

In 4 months of 2024, Russia exported more than 10 bcm through pipelines to Europe, which is 25.6% more than last year.

It should be recalled that in 2023, Russia reduced gas production by 5.5% to 637 bcm, and pipeline gas exports fell by almost 30% to 99.6 bcm.

LNG exports in 2023 decreased by 1.9% to 45.4 bcm. Deliveries to Europe amounted to about 21.8 bcm, which is 1.9% less than in 2022. LNG exports to Asia fell by 11% to over 20.5 bcm.