Russia Diversifies Gas Exports with Doubling Down on LNG Fleet

Russia's push to boost gas exports despite Western restrictions has led to a significant expansion of its liquefied natural gas (LNG) fleet.

In less than a year, Russia has nearly doubled the number of tankers ferrying LNG from its US-sanctioned Arctic project, currently at least 20 ships, mostly with opaque ownership structures, have served the Arctic LNG 2 facility and related infrastructure.

The country's bet on LNG sales is driven by a desire to find new markets for gas that once went to Europe by pipeline. Russia has been rapidly amassing a shadow fleet that can keep the fuel flowing eastward, particularly to China, the only buyer for sanctioned LNG.