LNG exports will continue to lead the growth in U.S. natural gas exports and average 12.2 billion cubic feet per day (Bcf/d) in 2022.

China imported nearly 400,000 tonnes from Russia in February, and 264,000 tonnes in January.

To meet the strong domestic demand, South Korea's LNG imports led by Kogas jumped 18% year on year to 4.992 million mt in March despite higher imports prices, as part of efforts to build up stockpiles amid rising import prices due to the ongoing Ukraine-Russia crisis.

China has increased its pipeline gas imports from Russia to 43 million cu m/day or around 15 Bcm/year since December 2021,

Even before the Ukraine war had Europe scrambling for alternatives for Russia's oil and natural gas, Qatar's ambitions to grow its LNG business were coinciding with burgeoning energy demand by western countries amid the recovery from the pandemic.

Russian President Vladimir Putin signed an order March 31 prohibiting supply of Russian gas to countries that have imposed sanctions against Moscow if they refuse to pay for imports in rubles.

CNOOC has a 10% stake in the 19.8 million mt/year Arctic LNG 2 project, which is also its solo asset in Russia.

"Japan has a stake in Sakhalin 2, which is contributing to securing long-term, stable and low-priced supply of LNG. It is an extremely important project for Japan's energy security," Kishida told parliament.

In the global market, 70% of LNG is exported under long-term contracts. Therefore, the remaining 30% is sold to the country with the highest bid in the spot market.

Croatia and Slovenia have decided to strengthen their energy cooperation, especially in the field of gas and nuclear power.