LNG shipments from Russia rose to highest since March

02/11/2022

1 minute read

Russian liquefied natural gas shipments increased in October to nearly a record, illustrating how the world is struggling to curb its dependence on the major supplier ahead of winter, Bloomberg found.

LNG exports from Russia rose 1.1% year on year in October to the highest level since March, according to ship-tracking data compiled by Bloomberg since 2016.

The top importing nations were France, China and Japan, the data showed.

There currently aren’t any direct sanctions on Russian LNG. Some utilities and governments are moving to halt additional purchases or stop deliveries from Russia altogether. The UK hasn’t imported the super-chilled fuel from Russia since the war started in February, and will formally ban it from January.

Meanwhile, buyers in China increased purchases of Russian LNG to take advantage of a discount to the spot market, according to traders.

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