Russian LNG Exports Slump 70% in Oct
Russia's LNG exports plummeted 70% in October compared with the previous month to 2mn m3, the country's federal customs service reported on December 10.
Shipments were also significantly lower than in October 2019, when 9.4mn m3 of LNG was exported. Revenues from the sale of this gas were down 85% month on month at $67.2mn. Exports came to 57.1mn m3 in the first 10 months of 2020, down only 1.8% compared with a year earlier. These supplies earned nearly $6bn, down 15%, as a result of weaker prices.
The customs service did not give a reason for the decline, nor a breakdown of how much individual projects exported. Russia's two main LNG plants are Yamal LNG, a 17mn metric ton/year facility operated by Novatek, and the 11mn mt/yr Sakhalin-2 terminal led by Gazprom.