Russian gas exports to southern neighbor surge

Georgia substantially boosted imports of Russian liquefied natural gas (LNG) in the first five months of the year, data from the Union of Petroleum Importers of Georgia showed.

According to the union, imports of Russian LNG rose 29.5% in annual terms from January to May, reaching 18,400 tons. Since the start of the year, 99.7% of Georgia’s LNG imports have come from Russia.

The South Caucasus nation also increased imports of Russian oil bitumen by 74% year-on-year in the reporting period. Russia accounted for 50.9% of all oil bitumen deliveries to Georgia during that time frame, while other major suppliers included Iraq, Türkiye and Azerbaijan.

Russia exported $168 million worth of petroleum products to Georgia in the first quarter of 2023, marking an increase of 275% from the same period last year. Russia now accounts for roughly two-thirds of Georgia’s overall fuel imports, which stand at $251.2 million.

Earlier reports stated that trade turnover between the neighboring countries in January-February 2023 exceeded $467 million, up 48% from the same period last year.

Georgia also recently overtook Italy to become Russia’s top wine supplier, with exports reportedly surging 63% from January to May.

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