Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to RIA Novosti on the reasons for the Russian LNG exports growth in 2024 and its prospects.
According to the expert, it is most cost-effective for Russia to supply liquefied natural gas to the nearest markets in Europe and Northeast Asia.
"This is the shortest transportation way (and this is critically important in conditions of a limited fleet of gas carriers), there is high demand and prices," he explained.
"If it were not for the geopolitical factor, Europe would remain the most attractive market for us for at least another 10-15 years," the agency interlocutor believes.
Now, as Belogoryev notes, Europe accounts for more than half of Russian LNG exports, and excluding the Sakhalin-2 project, all exports of which go to Japan, China and Korea, account for at least 75%.
The expert also added that the sanctions have not yet affected the existing Russian plants (Yamal LNG, Sakhalin-2, Portovaya LNG and Cryogaz-Vysotsk). At the same time, they provide almost the entire increase in supplies.
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