In 2024, Russia achieved a record export of 33.6 million tons of liquefied natural gas (LNG), marking a four percent increase from the previous year, according to a report from RBC on January 28, citing data from analytics firm Kpler. This surpasses the previous record of 32.9 million tons set in 2022.
December 2024 saw a new monthly record for LNG deliveries, with Russia shipping 3.25 million tons to global markets, a 1.3 percent increase from December 2023’s record of 3.21 million tons.
European countries were the largest consumers of Russian LNG, accounting for 52 percent of total exports, or roughly 17.4 million tons—up by four percentage points compared to 2023. France led the European imports with 6.3 million tons, followed by Spain (4.8 million tons), Belgium (4.4 million tons), and the Netherlands (1.3 million tons).
Asia accounted for 45 percent of Russia’s LNG exports, or 15.2 million tons, a slight decrease from the previous year. China and Japan were the largest buyers, importing 7 million and 5.7 million tons, respectively. Smaller amounts were shipped to Turkey (445,000 tons) and Kuwait (220,000 tons), with 336,000 tons categorized as shipped to unspecified destinations.
Despite Russia’s growing LNG exports, there has been political pressure within the European Union to halt Russian energy imports. Some EU politicians have advocated for a full boycott of Russian LNG exports. In response, the EU’s 14th sanctions package against Russia included a ban on the transshipment of Russian LNG through EU ports. While discussions for further sanctions took place during the drafting of the EU’s 15th sanctions package, no additional restrictions were ultimately imposed.
