Russian exports slow

Thursday, 07 January 2021
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Last year, Russian exports slowed down considerably, largely due to limited demand from Europe. 

In the first 11 months of 2020, Russia exported 25.3 mill tonnes of LNG by sea, according to Refinitiv’s vessel tracking data, analysed by Italian-based broker and research company Banchero Costa.

This represented an decline of 2.2% year-on-year, compared to 25.9 mill tonnes exported in the same period of 2019, according to the report.

The year started well, but deteriorated in the summer months. In the first quarter of 2020, Russia exported 7.7 mill tonnes of LNG, which was a 12.2% increase on the same period of 2019.

In the period April/June, 2020, LNG exports from Russia declined by 11.4% year-on-year to 6.2 mill tonnes. In the July/September period, Russia exported 6.3 mill tonnes, which was an 8.7% decline.

During the first 11 months of last year, exports from Russia to the European Union declined by 10.6% to 10.7 mill tonnes. Volumes to the UK were also down by 33.9% to 1.4 mill tonnes. Shipments to Japan were down by 8.9% to 4.8 mill tonnes and to South Korea -1.6% to 1.8 mill tonnes.

However, exports increased to Mainland China by 35.1% to 3.5 mill tonnes, and to Taiwan by 75.4% year-on-year to 2 mill tonnes, Banchero Costa said. 

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