Russian LNG in demand amid shortages due to Iran war - Novak

Russian liquefied natural gas (LNG) is in demand on global markets amid gas shortages due to the Middle East conflict, Russian Deputy Prime Minister Alexander Novak said.

"Currently, demand for liquefied natural gas is actually high as a result of the shortage caused by events in the Middle East. Therefore, Russian liquefied natural gas is in demand. And it's clear that we have a number of projects that supply various consumers and customers. These are all commercial matters," Alexander Novak said.

Earlier, Russian President Vladimir Putin said that, given the European Union's intention to completely abandon Russian gas, Russia could initiate an early exit from the European market and redirect supplies to other, more interested buyers.

Novak announced that national companies would soon redirect some LNG supplies from Europe to friendly countries, including China, India, Thailand, and the Philippines, without waiting for further restrictions from the EU.