OREANDA-NEWS  Russia in February came in first place in terms of supplies of liquefied natural gas (LNG) to the European market. According to the information system Refinitiv Eikon, with the project "Yamal LNG" in the European Union shipped a total of 19 parties or of 1.41 million tons of LNG.

In second place, Qatar, from which 18 consignments or 1.33 million tons of LNG were delivered in February, followed by Algeria (18 consignments) and Nigeria (16). US, which in January was the second LNG shipments to the EU after Qatar, in February put in the Old World only 9 batches of 0.64 million tons.

Most LNG from Russia was delivered to regasification terminals in the North-West of Europe, Reuters notes.

Yamal gas managed to take a significant share of the European LNG market in November last year. Then Russia became the second country after Qatar in terms of LNG exports to the EU, taking 17% of this market, according to the international consulting Agency ICIS.

According to Western publications, the growth of supplies from Russia to Europe was caused by lower than expected demand for LNG in Asia. Experts note that this contributes to the reduction of opportunities for price arbitrage with the Asian market.

In the last days of February, the difference in prices on European and Asian trading platforms fell to $0.3/million BTU. In such circumstances, the commercial feasibility of spending additional money on freight and transporting LNG to Asia is reduced, noted gas analyst at the energy Center of the Moscow school of management SKOLKOVO Sergey Kapitonov.

Now, according to the expert, more than 90% of the parties from the Yamal LNG plant go in the direction of Europe and only one — time parties-by the Northern sea route (NSR) to Asia. In Europe, part of the Yamal volumes are transshipped to other vessels for transportation to the markets of Asia, the Middle East and America. But still, most of this gas remains in Europe.

In January, spot quotations for LNG in Asia decreased almost to the level of European prices, VYGON Consulting consultant Ekaterina Kolbikova notes. In addition, while year-round navigation on the NSR is not established, LNG supplies are not carried out by a short route in the winter, and it is not advisable to carry LNG by a bypass route at current prices, she adds.