Russian LNG exports face both opportunities and challenges geopolitically. On one hand, LNG exports could open new markets and add flexibility to Russian gas supplies. However, it also faces competition from other LNG exporters and could undermine Russia's existing long-term gas supply contracts in Europe. Looking ahead, Russia will need to balance using LNG to enter new Asian markets while defending its dominant position in the European gas market through pipeline exports. The growth of shale gas and a potential second economic crisis also pose threats to Russian LNG ambitions.