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LNG: Russian LNG Exports to Europe Set for 13-Month Low: Montel

LNG
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Russia’s LNG exports to Europe in September could hit a 13-month low amid tepid regional demand and increased shipments via the Northers Sea Route to Asia, Montel said.

  • Europe (excluding Turkey) is set to import 0.7m mt (0.95 bcm) of Russian LNG in September, down 0.4m mt on the month and the lowest since Aug. 2023, according to Kpler.
  • Montel’s sources attributed this to more cargoes heading to Asia via the NSR. This is possible during the Autumn as there is less ice.
  • Just this month, a Russian LNG tanker without ice-breaking capabilities was heard taking the route for the first time.
  • This can be high risk and demonstrates Moscow’s determination to maintain LNG exports.
  • Europe’s LNG demand is also down on the year, as high storage cuts imports.
  • However, lower imports from Russia are unlikely to be linked to efforts to shun Russian gas.
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Russia’s LNG exports to Europe in September could hit a 13-month low amid tepid regional demand and increased shipments via the Northers Sea Route to Asia, Montel said.

  • Europe (excluding Turkey) is set to import 0.7m mt (0.95 bcm) of Russian LNG in September, down 0.4m mt on the month and the lowest since Aug. 2023, according to Kpler.
  • Montel’s sources attributed this to more cargoes heading to Asia via the NSR. This is possible during the Autumn as there is less ice.
  • Just this month, a Russian LNG tanker without ice-breaking capabilities was heard taking the route for the first time.
  • This can be high risk and demonstrates Moscow’s determination to maintain LNG exports.
  • Europe’s LNG demand is also down on the year, as high storage cuts imports.
  • However, lower imports from Russia are unlikely to be linked to efforts to shun Russian gas.