Russia's LNG supplies to Europe hit monthly record high in November

(Reuters) - Supplies of Russian LNG to Europe reached a monthly high of 1.75 Mmt, while deliveries to China declined, Kommersant newspaper reported on Monday, citing a data from Kpler.

Russia is seeking to boost production of sea-borne super-cooled gas as its pipeline gas exports to Europe, once a key source of revenue for Moscow, have plummeted amid sweeping Western sanctions imposed over the conflict in Ukraine.

Kommersant newspaper said Russian LNG supplies to Europe had eclipsed a previous record of 1.737 million tons set in December 2022.

It said that in November, Russian LNG deliveries to China fell to 0.1 million tons from 0.8 million tons in October.

Russia's total LNG supplies in November rose by 9.3% year on the year to 2.914 million tons.

Russia's LNG production this year is expected to come in at 30 million tons, or 8% of global output, down from around 33 million tons in 2022, mainly due to maintenance at Yamal LNG.

Russia plans to boost its LNG production to around 100 million tons annually by 2030 and to carve a 20% share of the global LNG market.

The plans could be hampered by sanctions from the United States against the Arctic LNG 2 project, which is expected to start operations by the year-end.

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