In March 2026, Russian production plants liquefied natural gas shipped for export more than 3 million tons. This allowed the country to take third place in the world in terms of LNG supplies. However, this success has a paradoxical reason: the main competitor, Qatar, was forced to almost completely stop exports due to hostilities in the Persian Gulf.
Iranian attacks on the Ras Laffan terminal and blocking of the Strait of Hormuz have virtually paralyzed Qatari LNG production. Taking advantage of the temporary vacuum, Russia increased shipments. Nevertheless, the gap from second place, which is occupied by Australia, remains twofold.
Generally global LNG market in March showed a drop of almost 7% compared to the same period last year. Analysts warn that shortages threaten not only oil, but also gas, which could lead to further price increases for consumers in Europe and Asia.
Russia’s leap into the top 3 is not so much the result of its own investments and technologies, but rather a consequence of the geopolitical collapse in the Middle East. As soon as Qatar restores power, the balance of power may return to its previous state.
Source: @nefte_baza
