CREA estimates 68% rise in Russia’s September LNG export revenue

Russia’s liquefied natural gas export revenue rose 68% from August to €75 million a day in September, the Centre for Research on Energy and Clean Air estimated. It was the highest level since January 2023.

The LNG revenue estimate is based on unloaded cargoes. It covers Russia’s worldwide exports of the fuel, while the European import growth figure describes deliveries to the EU only.

Russia’s total fossil fuel export revenue was broadly unchanged at €625 million a day, CREA said. Physical export volumes fell by 6%.

Spain received no Russian LNG cargoes in September, the first such month since the full-scale conflict in Ukraine began, the centre said. The EU overtook Türkiye to rank third among buyers of Russian fossil fuels.

Europe’s LNG requirements remain linked to weather and demand. In its October 8 outlook, the European gas transmission operators’ network ENTSOG said EU storage was 72% full on October 1 and examined different scenarios for winter LNG availability.