Russian Federation–East Asia Liquefied Natural Gas Trade Patterns And Regional Energy Security
About the Event
East Asia remained the biggest market for liquefied natural gas (LNG) in 2018. The Russian Federation has a clear vision to develop its East Asia LNG projects to provide a bigger share of Asian LNG imports. Recent research has revealed that a 1% increase in population growth in the People’s Republic of China, Japan, and the Republic of Korea increases Russian Federation LNG exports by nearly 3.43%, and economic growth by 6.16%, while any increase in geographical distance decelerates LNG exports to the selected East Asian economies by nearly 7.3%. This means that the close proximity of the Russian Federation to East Asia is an advantage for its LNG exports. Furthermore, the West’s sanctions against the Russian Federation are a positive influencing factor on the latter’s LNG export volume to East Asia. What does the future of regional energy security look like? What challenges and opportunities should the US policymakers consider?