Russia’s LNG: Pivot to Asia
November 2025 marked a record delivery of Russian LNG to China — 1.6 million tons. Europe is stepping back, Asia is stepping in.
Key Insights
Russian LNG is now the cheapest option for China
Discounts are driving demand, not partnership
Sanctions aren’t stopping exports, just reshaping the market
Implications
LNG plants stay active, revenue continues
Margins are thinner, terms dictated by China
Economy is adapting from growth → survival mode
💡 Bottom line: Russia’s LNG strategy isn’t about expanding influence; it’s about keeping income flowing while Europe loses relevance. China is the anchor — not a partner.