KSE Institute launches a new quarterly analytical product – Russian LNG Tracker – tracking Russian liquefied natural gas exports: volumes, cargo destinations, fleet ownership and management, and the activity of sanctioned tankers.

In March 2026, global seaborne LNG exports reached 34,642 kt, with the United States remaining the top exporter at 11,436 kt (33%) and Russia ranking fourth at 2,799 kt (8%), according to the April edition of the Russian LNG Tracker by KSE Institute. Russian LNG exports increased by 1% MoM and grew 6% YoY in Q1 2026 to 8,765 kt. Among Russian LNG shipments, 30% were carried by tankers managed by companies outside EU/G7 jurisdictions.

The Yamal LNG Terminal remains Russia’s key export hub, accounting for 63% (or 1,764 kt) of total Russian LNG exports in March. Non-EU/G7 tankers also primarily used the Yamal LNG Terminal, which accounted for 53% (or 441 kt) of exports by this group of tankers.

France and China were the top importers of Russian LNG in March, together accounting for 42% of total volumes. For non-EU/G7 tankers, the main recipients were France (35%) and China (24%) as well. Terminals Zeebrugge (Belgium) and Montoir (France) received 46% of Yamal cargoes, while Tongyeong (South Korea) and Rudong LNG Terminal (PetroChina, China) accounted for 34% of Sakhalin-2 exports.

Among all shipments, French and Chinese ship managers handled 54% of Russian LNG shipments. Registered owners from Singapore and Japan controlled 67% of total fleet capacity. ISM managers based in Singapore and Bermuda supervised 53% of Russian LNG shipments, and vessels flying the Bahamas and Cyprus flags accounted for 63% of total volumes.

In March, 27 unique tankers transported Russian LNG – two fewer than in February – with more than half belonging to the Conventional (TFDE/DFDE) class. The top three ship management companies remained unchanged: Dynagas Ltd (Greece), Mitsui Osk Lines Ltd (Japan), and Seapeak Maritime Glasgow Ltd (UK) – jointly transporting an average of 60% of Russia’s total LNG exports per month.

During January–March 2026, 10 sanctioned LNG tankers exported 0.75 mt of Russian LNG, accounting for over 9% of total exports and representing 26% of the active LNG tanker fleet loading in Russia.