Русский
Russian companies will redirect part of the liquefied natural gas (LNG) currently being supplied to European markets to other markets, without waiting for the EU’s import ban to take effect, according to Russian Deputy Prime Minister Alexander Novak.
He has said that “In accordance with President Putin’s instructions, we have worked through this issue and discussed in detail the current situation and the possibilities of redirecting Russian gas supplies. 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 Russia, where there is demand, and where there is the opportunity to conclude long-term contracts.”
Novak added that new contracts may be signed with companies from China, India, the Philippines, and Thailand, and 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, meaning growth opportunities are superior.
| Country/Region | 2026 GDP Growth World Bank Forecast |
| European Union | 0.9% |
| ASEAN | 4.7% |
| China | 4.4% |
| India | 7.0% |
Novak said, “We plan to supply global energy markets, primarily those countries interested in Russian gas and planning to build long-term, constructive relationships with us. These opportunities exist—our companies have confirmed this, and they are already in negotiations.”
President Putin had earlier said that “Other markets are opening up, and it might be more advantageous for Russia to halt shipments to the European market right now and go to these markets and gain a foothold there. I want to be clear on this: there’s no political agenda. But if the Europeans close themselves to us anyway next month, it is better planning for us to halt LNG supplies immediately and go to countries that are reliable partners and gain a foothold there.”
The European Union’s Position
In October 2025, the European Union adopted the 19th package of sanctions against Russia, which includes a ban on LNG purchases. The first stage comes into effect on April 25 and applies 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, including a ban on LNG imports under short-term contracts that takes effect on April 25 and a ban on pipeline gas supplies under short-term contracts taking effect on June 17.
Long-term contracts for pipeline gas supplies concluded before June 17 last year 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.
It is unfortunate for the European Union that it has been affected by the Iranian closure of the Strait of Hormuz, which has resulted in a cessation of LNG imports from the Middle East. The EU is believed to have LNG reserves that will last it until early April; however, shortages can be expected to result in rationing of use before then if the Iran situation is not resolved by then. EU LNG prices have risen by 45% since March 1st, with some predictions this could be as much as 80% by the end of this week.
