More than a fifth of Russia’s liquefied natural gas reaching Europe is re-transported to other parts of the world.
More than a fifth of Russia’s liquefied natural gas reaching Europe is reshipped to other parts of the world, boosting Moscow’s revenues – despite EU attempts to reduce them in response to a large-scale invasion of Ukraine, it was reported the Financial Times.
Although there are contracts in Britain and the Netherlands for the so-called 2023 data suggesting that authorized shipments of Russian gas are routinely moved between tankers in Belgium, France and Spain and then exported to customers on other continents.
These transfers are crucial for Russia as it seeks to make the most of its Arctic fleet. The transhipment usually takes place between Russian “ice-class” tankers sailing between the Yamal Peninsula and northwestern Europe, and regular LNG tankers, which then sail to other ports, freeing the ice-class ships and allowing them to move north return.
Ports in Belgium, Spain and France continue to receive significant volumes from Siberia’s Yamal LNG plant, whose largest shareholders include Russia’s second-largest natural gas producer Novatek, China National Petroleum Corporation and French energy company TotalEnergys.
Russian LNG flows to China
According to data from the Energy Institute, 21 percent of the 17.8 billion cubic meters of Russian liquefied natural gas that flowed into the EU between January and September this year was transferred to ships destined for countries outside the EU, including China, Japan and Bangladesh. .
Zeebrugge in Belgium and Montoir-de-Bretagne in France received the most Russian LNG of all EU ports in 2023.
Unlike coal and oil, Russian gas is not subject to EU sanctions, but the European Commission has said member states must get rid of Russian fossil fuels by 2027.
Source: Do Rzeczy
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
