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LNG Exports to Europe Increase by 50%

  • Despite geopolitical developments, Europe is increasing its purchases of Russian LNG against the backdrop of a decrease in pipeline supplies from Gazprom, Kommersant report. In the first nine months of 2022, Russian LNG exports to Europe have increased by 50% to 15 billion cubic meters with gas prices in the region now the highest in the world.
  • Kommersant report that October may be the first month of this season when wheat exports from Russia will exceed last year's level and the average for the period. The volume of deliveries is estimated at 4 - 4.4 million tons according to a review by Sovecon. But exporters are already preparing for lower sales due to financial problems in Egypt and Pakistan and increased purchases of Ukrainian grain by Turkey.
  • PPI data crosses on Wednesday where a 5.4% y/y, 0.4% m/m expansion is expected.

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