2024-05-13 17:42:09
EU imposes sanctions on Russian LNG for the first time: experts say who will suffer the most.
New EU sanctions on Russian LNG will affect both Asian and European buyers.
Russia very often tries to unload its arctic fuel at EU ports. Novatek representatives did so, Bloomberg news agency reports.
On the one hand, the new sanctions will not prevent the cargo from reaching European countries, but further transportation of LNG to Asian countries will be complicated.
Such a situation could have a negative impact on Russia’s partners in China and India.
The new sanctions will make up the 14th blacklist package from 2022. basis.
Although this is not a complete ban on liquefied natural gas from Russia, a start has already been made.
Novatek is now actively using the ports of Zeebrugge (Belgium) and Montour (France), where 15 light LNG vessels are docked.
in 2023 at the end of the EU purchased 14.4 million tons of Russian LNG.
The new sanctions will prevent Russia from unloading additional LNG destined for Asian countries at European ports.
In fact, the Kremlin will have to find other ways to supply gas to Asia.
James Waddell of Energy Aspects said: In the future, such a deal could lead to EU countries being blamed for increased LNG supplies from Russia.
However, the new sanctions will complicate Russian logistics, and LNG ships will have to find new routes.
For example, for Yamal ships, the supply of LNG to Asia will directly increase freight and logistics costs.
At the same time, the icebreakers themselves will have to spend even more time in port to “rest” and stand.
The Russian Federation will have to use Murmansk as a transshipment point, and in the summer – the Northern Sea Route.
According to the same magazine “Energy Aspects”, Russian LNG will become more expensive for Asian countries. The use of the Northern Sea Route or the Murmansk transshipment point will also depend on ice conditions, which will delay supplies to Asia until the second half of the calendar year, the experts added.
Fluxys SA (Zeebrugge, Belgium) will suffer the most in the EU. The company built a special LNG storage terminal immediately after signing a 20-year contract with the Russian company Jamal Trade.
Ultimately, the company will have to declare force majeure or pay the Russian company 1 billion. euro fine.
2024-05-13 17:42:09