Novak, quoted by the media as saying that Russia is considering redirecting LNG from Europe to Asia-Pacific

Interfax and Izvestia reported that Russia's Deputy Premier Alexander Novak stated on Friday he had discussed the?possibility? of redirecting Russian LNG supplies from Europe to alternative markets.

This week, Russian President Vladimir Putin said that Russia can halt gas supply to Europe immediately due to the spike in energy costs triggered by the Iran Crisis. He was preempting EU plans for stopping 'Russian LNG imports until end-2026 and pipeline gas before September 30, 2027.

Novak stated that Russian companies are looking at opportunities to divert shipments towards Asia-Pacific markets. Negotiations have already begun, he stated, and supplies will soon be diverted from the European market into what he called friendly countries.

Novak stated that "our companies are considering the 'opportunities' to enter into 'new long-term agreements with our partners' without waiting for any further European restrictions, and redirect some of Europe's gas to other countries such as India, Thailand, the Philippines, or the People's Republic of China",

(source: Reuters)