Russian liquefied natural gas (LNG) shipments to Europe surged to a monthly peak of 1.75 million metric tons, marking a record high, as reported by Kommersant based on data from Kpler. This increase in LNG exports to Europe comes as Russia aims to bolster its production of super-cooled gas for sea transport, compensating for a decline in revenue from pipeline gas exports to Europe due to sanctions related to the conflict in Ukraine.

In November, Russian LNG deliveries to China experienced a notable drop from 0.8 million tons in October to 0.1 million tons. Despite this decline in Chinese deliveries, Russia's total LNG supplies for November rose by 9.3% year-on-year to reach 2.914 million tons.

Challenges in achieving Russia's LNG production targets for this year, set at 30 million tons or 8% of global output, are attributed to maintenance activities at the Yamal LNG facility. Russia's ambitious plans include boosting LNG production to approximately 100 million tons annually by 2030, aiming for a 20% share of the global LNG market. However, potential impediments arise from U.S. sanctions targeting the Arctic LNG 2 project, scheduled to commence operations by the year-end.

SOURCE:GOOGLE