OREANDA-NEWS By the end of August 2024, the total volume of liquefied natural gas (LNG) exports from Russia increased by 33 percent compared to the same period in 2023 and reached the level of 2.94 million tons. This is reported by the Kommersant newspaper, citing data from analysts at Kpler.

It is noted that the result achieved in the last month of summer turned out to be the highest since January 2024. In general, in January-August, Russian LNG supplies increased by 5.7 percent compared to the same period in 2023 and amounted to 21.76 million tons, experts explained.

During the reporting period, exports increased in all key areas. Thus, supplies to the Asia-Pacific region (APR) increased 10.5 percent year-on-year to 1.62 million tons during this time. In turn, exports to Europe increased by 57 percent year-on-year and reached 1 million tons. Experts linked the increase in Russian LNG supplies to the Asia-Pacific region, including with hot weather conditions in August. Against this background, the consumption of this type of fuel in the region has increased markedly. According to Ivan Timonin, an analyst at Implementation, the latter primarily concerns China and Japan.

The increase in Russian LNG supplies to Europe has been recorded for several months. Earlier, analysts at Bruegel consulting company reported that by the end of the second quarter of 2024, Russia was able to outpace the United States in terms of exports of this type of fuel to the EU, sending a total of about 12.73 billion cubic meters to the region. During the reporting period, they estimated the exports of the United States at about 12.27 billion.