EU Approach to Russian LNG Remains Fractured as Dutch Imports Increase The upcoming EU transshipment ban for Russia LNG may already be having an unintended consequence: more imports of liquefied natural gas into the EU. But experts contend it is too early to tell and call for an EU-wide approach, rather than individual actions by member states.
Record-size Container Ship Sets Course for Arctic via Norwegian Coastline A massive container ship the length of three football fields traveled up the Norwegian coastline en route to China over the weekend. It is the latest sign of increasing Arctic traffic passing through the Norwegian and Barents Seas, including sanctioned and possibly underinsured “shadow fleet” vessels.
Sanctions Catch up with Red Box Shipping as CEO Quits Company The tide continues to turn for heavy lift vessel operator Red Box and its co-founder and CEO Philip Adkins. Following designation by the U.S. treasury for continuing to do business with Russia last month, Mr. Adkins has called it quits.
U.S. Targets Future Russian Energy Projects in Arctic in New Round of Sanctions The next round of U.S. sanctions against Russia targets the proposed Obsky LNG, Arctic LNG 1 and Arctic LNG 3 projects and companies building pipeline infrastructure for Murmansk LNG and Vostok Oil.
EC Expected To Propose Partial Ban of Russian LNG as Kremlin Issues Strong Rebuke Following recent calls by Swedish and German officials to move toward restricting the inflow of Russian liquefied natural gas the European Commission has now taken up the issue. In discussions with member states the EU is suggesting a ban on transshipments.
Delivery of Final Modules for Russia’s Arctic LNG 2 Project Highlights Challenge of Designing Effective Sanctions Russia’s Arctic LNG 2 energy project offers a masterclass in how difficult it is to design effective sanctions. Despite multiple rounds of blocking measures, pre-assembled modules continue to travel from China to Russia, and shipping company Red Box opines it is not violating international rules.
Spain and Belgium Buy Russian Arctic Gas at Record Rate, Officials Unsure How to Stop Imports European countries continue to buy more than half of Russia’s gas production. Throughout 2023 Spain emerged as a major importer surpassing previous record buyers France and Belgium, without concerted European effort to reduce import volumes. Norway also continues to expand its LNG portfolio, including to destinations outside the EU.
No Shipments from Russia's Arctic LNG 2 Until March as Sanctions Block Delivery of LNG Carriers US sanctions continue to delay the initial shipment of gas from Russian gas producer Novatek’s Arctic LNG 2 project. The lack of ice-capable carriers for liquefied natural gas has delayed the first cargo until at least March. Meanwhile, Novatek has begun looking for new buyers of its sanctioned gas in China.
Ukraine Petitions Norway, US, and EU for New Sanctions Against Russian Gas Despite Western sanctions targeting Russia’s energy sector, the country’s LNG exports have increased since 2022. A new Ukrainian petition now calls on officials in Europe and the US to expand sanctions targeting Novatek’s Yamal LNG and Arctic LNG 2 projects.
Undeterred by Sanctions Novatek Begins Production at Arctic LNG 2 In spite of mounting international sanctions Russian gas producer Novatek has begun production at Arctic LNG 2 and the first shipment of liquefied natural gas is likely just weeks away. The company managed to successfully redesign its facility to replace Western technology with Chinese imports and a number of Arc7 LNG carriers will enter into service in 2024.
Novatek To Surpass Gazprom As EU’s Largest Russian Gas Supplier, Highlighting Continued Reliance on LNG Ukrainian officials again urged the EU to end imports of Russian liquefied natural gas. Russia continues to supply more than 15 percent of the EU’s liquefied natural gas enabling gas producer Novatek to surpass gas giant Gazprom to become the country’s largest supplier to the continent.
Arctic Port of Tiksi Opens to Foreign Vessels To Spur Investments along NSR Russia continues to bank on the development of its Northern Sea Route for future economic prosperity. By designating Tiksi an “international port” it hopes to create a new cargo hub along the route.
EU Begins Consultations to Curb Inflow of Russian LNG Following earlier calls by the EU Commission and member states to begin limiting imports of Russian liquefied natural gas, discussions on the issue began last week as part of a broader gas package.
Second Ship Transporting Russian Gas Stops in North Norway Massive tankers carrying Russian gas to Europe continue to use waters near Honningsvåg in North Norway for stopovers. AfterVladimir Voroninin mid-April, a second ship,Eduard Toll,entered Norwegian coastal waters on April 30.
Troubled Waters: LNG Ship Carrying Russian Gas Stops in North Norway A natural gas tanker carrying LNG for Russian company Novatek made a 24h pitstop near Honningsvåg raising questions about the adequacy of Norwegian sanctions. The Norwegian Ministry of Foreign Affairs did not reply to a request for comment in time for publication.
Novatek With New 2023 Launches Despite sanctions Russian producer of natural gas, Novatek, continues to overcome the impact of sanctions and will deploy two massive floating LNG hubs near Murmansk and Kamchatka in 2023. The transshipment hubs represent the final piece in its logistics chain to export LNG from the Arctic to Europe and Asia. The company will also receive at least four new Arc7 LNG carriers in 2023.
German Oil and Gas Company Faces Criticism For Slow Exit from Russia German oil and gas producer Wintershall Dea withdraws from its Russian joint venture in the Arctic. The company faces criticism for its late departure and accusations that gas condensate it produced may have been used by Russian fighter jets over Ukraine. Wintershall Dea also plays a significant role in oil and gas in Norway, including Snøhvit and the upcoming Irpa project in the Arctic.
Russia Reroutes Arctic Oil To China and India as Result of EU Sanctions EU sanctions against Russian oil increasingly divert Arctic crude oil – from the Prirazlomnoye platform and the Arctic Gate and Varandey terminals – to China and India with three vessels currently en route from Murmansk to China. For 2023 experts anticipate increasing oil exports to Asia via the Northern Sea Route.
Russian LNG Shipments Face Possible Disruptions as Japanese Insurance Firms Withdraw Coverage The impacts of Russia’s invasion of Ukraine continue to ripple through the global energy sector. Now three major Japanese insurance companies announced they will stop providing certain insurance cover to vessels in Russian waters, raising questions about the future flow of LNG from Yamal LNG and Sakhalin-2 to Japan.
Novatek Considers Returning to Norway to Transship Yamal LNG Russia’s second-largest natural gas producer Novatek is eyeing a potential return to Norway to transship liquefied natural gas (LNG) from its Yamal LNG plant following U.S. sanctions against one of its shipping partners. The company previously reloaded LNG near Honningsvåg with partner Tschudi Shipping Company.
