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Wednesday, 05 February 20
RUSSIA EXPORTED 28.6 MLN TONNES OF LNG IN 2019 - REFINITIV
 A lot of attention has been paid recently on the surge in LNG exports from the United States. However, another country which is seeing truly exponential growth in this sector is Russia. In the 12 months of 2019, Russia exported 28.6 mln tonnes of LNG, according to vessel tracking data from Refinitiv.
This represents an increase of +57.0% year-on-year, compared to the 18.2 mln tonnes exported in 2018. Also, it was +170.0% more than the 10.6 mln tonnes of LNG exported by Russia in 2017. Russia now accounts for 8.0% of global LNG seaborne exports. Last year there has also been a quite significant shuffling in the trade patterns from Russia. Japan used to be the top destination for Russian LNG until 2018.
In 2017, Japan accounted for as much as 62% of all Russian LNG exports. However, Japan’s share has fallen to just 20% in 2019. Even in absolute volumes, there has been a decrease last year. Japan bought only 5.8 mln tonnes of LNG from Russia in 2019,down -9.1% from 6.4 mln tonnes in 2018, and -12.3% down from the 6.6 mln tonnes imported in 2017. Shipments from Russia to Taiwan have also shrunk.
In 2019 Russia exported just 1.3 mln tonnes of LNG to the island, down -33% from 1.9 mln tonnes in 2018. Exports to South Korea have rebounded by +27% year-on-year in 2019 to 2.1 mln tonnes, from a low of 1.6 mln tonnes in 2018, and slightly above the 1.9 mln tonnes of 2017. The jump in demand from Mainland China was much more significant though. In 2019, Russia exported 2.8 mln tonnes of LNG to Main land China, up +98% year-on-year from the 1.4 mln tonnes of 2018,and almost six-fold the 0.5 mln tonnes of 2017. However, by far the biggest increase has been in shipments to Western Europe. In 2019, Russia exported 15.7mln tonnes of LNG to the European Union, a massive +191% year-on-year increase from the 5.4 mln tonnes of 2018. It’s worth pointing out that in 2017 the volumes were negligible (just 0.2mln tonnes).
LNG is playing an increasingly important role in Europe’s energy supply mix. Following a period of low utilization of Europe’s LNG import terminals between 2012 and 2017, LNG imports to Europe surged from the third quarter of 2018 onwards, and peaked in the spring of 2019. In total in 2019, the European Union imported 80.5 mln tonnes of LNG, up +79.5% year-on-year, and accounted for 22.5% of global LNG demand. Russia was the second largest supplier of LNG to the EU in 2019, being the source of 20% of the EU’s total imports.
In first place was still Qatar, which accounted for 27% of the EU’s LNG imports. Last year, the largest European importer of Russian LNG were France with 5.1 mln tonnes, followed by the Netherlands with 3.2 mln tonnes. Down the list we have the UK with 2.4 mln tonnes, Belgium with 2.3 mln tonnes, Spain with 2.2 mln tonnes. There have also been small volumes shipped to Finland, Sweden, Lithuania, and Portugal.
The vast majority of LNG exports from Russia are sourced from the Yamal LNG project, then or the northernmost industrial facility on the globe, and loaded at Sabetta Port on Russia’s Arctic coast. Yamal LNG is served by a fleet of 15 ice- class 170,000 cubic meter LNG carriers.
Source: Banchero Costa
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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- European Bulk Services B.V. - Netherlands
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- Eastern Coal Council - USA
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