Seaborne

Russian maritime LNG exports reached 30.3 million tons

Jhe current situation in Ukraine has a direct impact on maritime transport markets, with Russian maritime exports being driven out of the market. In its latest weekly report, shipping broker Banchero Costa said that “Russia is the world’s fourth largest maritime exporter of liquefied natural gas, after Qatar, Australia and the United States. In calendar year 2021, the country exported a total of 30.3 million tonnes of LNG by sea, according to Refinitiv vessel tracking data, a +5.4% year-on-year increase. This represented 7.8% of global LNG exports by sea. The majority of Russia’s LNG exports currently come from the Yamal LNG project, the world’s northernmost industrial facility, and are loaded at the port of Sabetta on Russia’s Arctic coast. Yamal LNG is served by a fleet of 15 ice-class LNG carriers of 170,000 m3”.

According to Banchero Costa, “in 2021 Yamal LNG’s exports reached 19.5 million tons (64% of Russia’s total). The vast majority (13.7 million tonnes, 70%) was shipped to Europe, while only 5.7 million tonnes (30%) was shipped to Asia. Some 3.2 million tonnes were shipped to China. A second LNG plant, named Artic LNG 2, is currently under construction with an expected completion date of 2022 at a site to the east near the Gyda peninsula across the river estuary. Ob since Sabetta, and will be targeted for Asian markets. The Arctic LNG 2 project involves the construction of three LNG trains, each with a capacity of 6.6 mtpa”.

Source: banchero costa &c spa

“The second largest operational LNG export facility in Russia is at Prigorodnoye on Sakhalin Island in the Far East region of the country from the Sakhalin-2 project. It was the first LNG export facility in Russia. The LNG plant was inaugurated on February 18, 2009. The first cargo was loaded on the LNG carrier Grand Aniva at the end of March 2009. Exports from Sakhalin reached 10.1 million tons of LNG in 2021, or 33.3% of Russia’s total. Shipments from Sakhalin are entirely destined for Asia – mainly to Japan (6.0 million tonnes in 2021), South Korea (2.0 million t), Taiwan (1.2 million t) and mainland China (0.8 million t),” the shipbroker said. .

“Finally, small quantities of LNG (0.7 million tonnes in 2019) are shipped from Vysotsk in the Gulf of Finland. The destinations of these tiny cargoes are mainly the neighboring countries of the Baltic Sea (Finland, Sweden, Lithuania), as well as Rotterdam in the Netherlands. Russian LNG exports have grown very rapidly in recent years, +71.9% in 2018, +56.2% in 2019. However, since 2020 exports have slowed down significantly, largely due to demand limited to Europe. In 2020, Russian export growth slowed to +1.0% YoY in 2020, followed by +5.4% YoY in 2021. In terms of destinations, the main customer for Russian LNG is the European Union. In the full 12 months of 2021, Russia’s exports to the European Union fell slightly by -2.0% year-on-year to 12.1 million tonnes. Nevertheless, the European Union still accounted for 39.8% of Russian LNG shipments in 2021. The 12.1 million tons shipped in 2021 was three times higher than the 4.1 million tons shipped in 2018. Prior to 2018, they were practically nil,” said Banchero Costa.

Source: banchero costa &c spa

“Volumes to the UK, on ​​the other hand, were up +24.4% year-on-year to 2.3 million tonnes, just below the 2019 record of 2.4 million tonnes. was the destination for 7.5% of Russian LNG shipments in 2021. The second largest destination after Europe is Japan, which accounted for nearly 23% of Russian LNG shipments in 2021. Shipments to Japan have increased by +24.6% year-on-year in 2021 to reach 6.8 million tonnes, a record level. Exports to South Korea also increased in 2021, by +49.4% year-on-year to 2.8 million tonnes, with South Korea holding a 9.4% share. Shipments to mainland China fell slightly by -2.9% yoy in 2021 to 4.0m tonnes, and to Taiwan by -21.4% yoy to 1.7mln tonnes,” said concluded the ship broker.
Nikos Roussanoglou, Hellenic Shipping News Worldwide