Decision made that part of LNG currently supplied to Europe will be redirected to other markets - Russian deputy PM
MOSCOW. March 6 (Interfax) - Russian companies will redirect part of the liquefied natural gas (LNG) currently being supplied to European markets to other markets, without waiting for the import ban to take effect.
"In accordance with the president's instructions, we have worked through this issue today. We discussed in detail the current situation and the possibilities of reorienting gas. A decision was made that part of the LNG currently supplied to Europe will be redirected to other markets where constructive, pragmatic relations are being built with our country, where there is demand and [where there is] the opportunity to conclude long-term contracts," Deputy Prime Minister Alexander Novak said.
He said new contracts might potentially be signed with companies from China, India, the Philippines and Thailand, for example.
Novak said that during the meeting, it was noted that market forecasts for the Asia-Pacific region pointed to long-term growth in demand, which is also backed by data showing economic growth rates higher than the global average.
"We plan to supply global energy markets, primarily those countries interested in Russian gas and planning to build long-term, constructive relationships with us. And such opportunities exist: our companies have confirmed this today and are already in talks," Novak said.
Russian President Vladimir Putin on March 4 asked the government and companies to think about halting gas supplies to the European market without waiting for the import ban to go into effect.
"Some other markets are opening up, and it might be more advantageous for us to halt shipments to the European market right now and go to the markets that are opening up and gain a foothold there. And I also want to be clear on this: there's no political agenda. But if they close themselves to us in a month or two, we'd better halt [supplies] right now and go to countries that are reliable partners and gain a foothold there," Putin said.
In October 2025, the European Union adopted the 19th package of sanctions against Russia, which includes a ban on LNG purchases. The first stage will come into effect on April 25, 2026 and will only apply to yearly contracts. A full embargo is expected to take effect on January 1, 2027.
In addition, the EU adopted a directive banning imports of Russian gas in general, including a ban on LNG imports under short-term contracts taking effect on April 25, 2026, and that on pipeline gas supplies under short-term contracts taking effect on June 17, 2026.
As for long-term contracts for pipeline gas supplies concluded before June 17, 2025 and that have not been amended, their execution is permitted until September 30, 2027. Contracts for LNG supplies would be valid until January 1, 2027.
As concerns pipeline gas, a permit may be extended for another month if a particular country fails to fill its storage facilities to the required level. In this case, it will be required to notify the European Commission no later than September 15, 2027.
