Russian LNG news

IEEFA has found that Europe’s LNG imports fell by 19% in 2024, as gas consumption fell to an 11-year low.

The UK has sanctioned five ships and two entities involved in the Russian LNG sector.

Sanctions to prohibit the purchase or import of LNG originating from Russia through EU terminals that are not connected to the EU gas network have now come into force, which means that Gasum will no longer import LNG from Russia.

Russia’s gas and LNG industries have suffered from sanctions imposed by Western countries in the wake of Russia’s invasion of Ukraine due to limited pipeline infrastructure and reliance on Western companies, reports Rystad Energy.

Rystad energy reports that despite the growth in dual fuels, LNG remains supreme in terms of shipping fuel choices.

Oil and gas industry exhibits resilience as contract value sustains despite 22% drop in contract volume during 2023, reveals GlobalData.

The EIA’s most recent annual data for 2021 shows that the net disposition of natural gas in the US increased by 3.6% in 2021 compared with 2020 as a result of growth in LNG exports.

High natural gas prices will continue to drive down European demand to 7% below the five-year average through March, leaving a best-case scenario of storage levels at 31% at winter’s end.

The company has stated that its investment policy is designed to transform TotalEnergies into a multi-disciplined energy company, which will help it achieve its net zero target by 2050.

As the global energy crisis deepens and countries scramble to secure reliable energy sources, investments in new LNG infrastructure are set to surge, reaching US$42 billion annually in 2024.