Tuesday, August 9, 2022

Russia surpasses America in LNG exports to Europe and Asia


Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com

A report by the International Group of Liquefied Natural Gas Importers (LNG Importers) said Monday that in 2018 Russia advanced to the United States in terms of volume of LNG imports to Europe and Asia.

Russian net natural gas exports to Europe in 2018 amounted to 4.43 million tons, while the United States exported only 2.7 million tons to the European market, the report reported by the Russian news agency Sputnik reported. He pointed out that Qatar (16.42 million tons), Algeria (9.29 million tons) and Nigeria (9.07 million tons) were the largest LNG suppliers to the European market.

In 2018, Europe imported a total of 48.91 million tons of liquefied natural gas (LNG), up 6.4 percent from 2017. The largest share of this increase is in Belgium, the Netherlands, Poland, Finland, Malta and Turkey. On the contrary, Lithuania, Greece, Sweden, LNG purchases, according to the report.

At the end of 2018, Russia was ahead of the United States in the most attractive liquefied natural gas market in Asia. Russian LNG exports to the Asian market last year reached 12.86 million tons, while US exports amounted to 10.73 million tons. Australia ranked first in the market (66.54 million tons), Qatar II (56.78 million tons) and Malaysia (third place) with 24.66 million tons.

In total, the total volume of LNG imports in the world rose by 8.3 percent in 2018 to 313.8 million tons. At the same time, 20 countries exported liquefied natural gas (LNG) and 42 countries imported it. The largest proportion of liquefied natural gas (LNG) growth came from new production in Australia and the United States, as well as in Russia, where a joint venture of Novatech and its foreign partners – Yamal LNG “(” Yamal SBG “).

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