South Korea’s Russian LNG Imports Hit Highest Level Since 2021
South Korea imported 326,000 tons of liquefied natural gas from Russia in September 2026, reaching the highest monthly volume since November 2021 as Russian shipments offset supply losses from Qatar, BigGo Finance reported.
Customs Data Shows Highest Import Volume Since Late 2021
Data published on October 16, 2026, by Russia’s state-run TASS news agency, drawing on figures from the Korea Customs Service, placed the value of the September Russian shipments at $250 million, or approximately 330 billion won. This total marks the highest level recorded since the outbreak of the war in Ukraine in February 2022.
Total South Korean liquefied natural gas imports for September reached 3.56 million tons, valued at $3 billion, or roughly 4 trillion won. That figure represents an 8% decline compared to the same month in the previous year, but a 14% increase from August 2026.
Australia remained the country’s largest supplier during September at 1.33 million tons. The United States followed with 436,000 tons, Canada provided 426,000 tons, Malaysia delivered 414,000 tons, and Peru supplied 203,000 tons. Additional volumes included 165,000 tons re-exported from China and 123,000 tons from Indonesia.
Qatari Production Halts Force Supply Adjustments
The surge in Russian deliveries directly resulted from sudden supply disruptions in Qatar. QatarEnergy declared force majeure and completely suspended gas shipments to South Korea after airstrikes forced a halt at Qatari production facilities in early March.
Despite the sharp monthly spike in September, cumulative national imports for the year continued on a downward trajectory. Between January and September 2026, total imports fell 6.4% year-on-year to 32.9 million tons, valued at $20.6 billion. Russian imports over that same nine-month period dropped 12.7% to 1.41 million tons, worth approximately $853 million.
EU and UK Ban Shipping Services for Russian LNG
Russia operates major production sites including Sakhalin-2 in the Far East and Yamal LNG along the Arctic coast. Other facilities face intense Western scrutiny, including the U.S.-sanctioned Arctic LNG-2 and Gazprom LNG Portovaya in the Baltic Sea.
The European Union and the United Kingdom plan to ban shipping and insurance services for Russian liquefied natural gas starting in January. However, both regions established exemptions allowing volumes imported under existing long-term contracts to continue until March 31, 2028, to protect energy supply stability for South Korea and Japan.