russia to transfer LNG from ship to ship at sea to allow tankers to circumvent sanctions - Reuters

russia plans to organize ship-to-ship transshipment of liquefied natural gas and gas condensate in the Barents and Bering Seas to free up more ice-class tankers for its largest LNG producer, Novatek (NVTK.MM.). UNN writes about this with reference to Reuters.

Details

It is noted that Novatek, despite Western sanctions, continues to implement the Arctic LNG 2 project.

To address the lack of ships capable of navigating Arctic waters, russia plans to offload its cargo to conventional vessels at sea, freeing them up for new deliveries.

The first ship-to-ship transshipment site will be created near Chosha Bay in the Barents Sea for Ob Ammonia, a subsidiary of Novatek. Then russia plans to create a second facility with the same capacity in Kresta Bay in the Bering Sea.

The transfers - which will take place only when vessel traffic is not hampered by ice - will allow for the loading of 4.1 million cubic meters of LNG and 1.4 million cubic meters of gas condensate per year at each facility, the document says.

It is noted that Novatek is already using the same scheme for transshipment of LNG from ship to ship off the coast of the murmansk region of russia.

Add

The sanctions restrict access to tankers needed to transport LNG via the Northern Sea Route to Asian markets. And starting in March 2025, loading of russian LNG will be prohibited in EU ports.

Recall

russia has created a shadow fleet of old ice-class vessels transferred to unknown companies based in Dubai to transport liquefied natural gas around the world, circumventing Western sanctions.

The UK has already imposed sanctions on 18 russian oil tankers and 4 LNG tankers. These are "the largest sanctions against putin's shadow fleet" and are intended to undermine russia's energy revenues.

Ukraine's MFA calls on partners to block Russia's shadow fleetOct 15 2024, 05:34 PM • 19292 views