Russia supplied Europe with some 17 million tonnes of LNG last year, up about 20% from 2021 volumes, Refinitiv Eikon data showed on Jan. 31, partially offsetting a steep decline in Russian pipeline gas exports.
Europe has been boosting imports of seaborne LNG - gas transported in liquid form at -160 C (-256 F) - amid a cut in pipeline gas supplies from Russia due to a deep political crisis over Ukraine.
Russian gas exports to Europe via pipelines plummeted to a post-Soviet low in 2022 as its largest customer cut imports due to the conflict in Ukraine, and a major pipeline was damaged by mysterious blasts.
At the same time, Russia increased its total LNG exports in 2022 by 8.6% to around 33 million tonnes (around 45 Bcm), of which more than half was shipped to Europe, Refinitiv Eikon data showed.
Russia's largest LNG producer Novatek provided the bulk of the supplies, having shipped 20.8 million tonnes from the Yamal LNG project in the Arctic and 700,000 tonnes from Kriogaz-Vysotsk on the Baltic Sea, according to Refinitiv Eikon.
The Gazprom-led Sakhalin-2 project in the Pacific part of Russia increased its LNG supplies by 11% to 11.2 million tonnes in 2022.
Gazprom and Novatek have not responded to requests for comments.
Note: This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine.
Commodities Trader Trafigura Makes Record $3.5 Billion Q1 Profit
2023-03-13 - Record returns were galvanized by global energy shortages due to Russia's war in Ukraine and under-investment in new developments and infrastructure.
EQT’s Q4 Earnings Up, But Natural Gas Price Volatility Clouds Forecast
2023-02-17 - Earnings per share rose to 42 cents in the fourth quarter of 2022 for natural gas producer EQT Corp.
Bernstein Forecast: US Capex to Rise 15% — But Remains Near 20-year Low
2023-01-17 - Global capex will increase to $575 billion, which is well shy of what is needed to meet long-term oil and gas demand, analysts say.
SM Energy Boosts Q4 Income But 2023 Guidance Underwhelms
2023-02-24 - Lower-than-estimated fourth-quarter oil production volumes are expected to stretch through 2023, while capex is expected to increase by over $200 million.
Shell 2022 Profit More Than Doubles To Record $40 Billion
2023-02-02 - The British company's record earnings, which more than doubled from a year earlier, mirror those reported by U.S. rivals earlier this week and are certain to intensify pressure on governments to further raise taxes on the sector.