Sergey Kondratiev, Principal Director on Economic Studies at the Institute for Energy and Finance, commented to the Kommersant newspaper on the Russian LNG export.
Sergey Kondratiev remains optimistic about the prospects of the sector in 2024, expecting that LNG production in Russia will grow to 35.8–36.1 million tons: this takes into account the average annual load of the first line of Artik LNG-2 at the level of 40-45%.
"I think that in 2024 we will see a decrease in exports to the EU due to the ongoing European market reformation, stabilization of gas prices at a relatively low level and increased sanctions pressure," he notes. The analyst believes that shipments to Europe by the end of 2024 may fall to 12-13 million tons.
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