LNG vessels due to load at sanctioned Russian terminals set for Europe, Asia, data shows

HYUNDAI MARINE & FIRE INSURANCE

14/01/2025 07:52

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      US sanctions target Russian LNG terminals and operators
    

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      Sanctions affect LNG shipments to Europe and Asia
    

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      Impact on Europe's gas supply deemed minor by Rabobank
    

  
    By Emily Chow
       SINGAPORE, Jan 14 (Reuters) - The liquefied natural gas
(LNG) vessels due to load at two newly sanctioned Russian export
terminals are set to deliver their cargoes mostly to Europe and
also to Asia, shiptracking data showed on Tuesday.
    The U.S. on Friday imposed its broadest package of sanctions
so far targeting Russia's oil and gas revenues in efforts to
give Kyiv and Donald Trump's incoming team leverage to reach a
deal for peace in Ukraine.
    On sanctions related to the LNG sector, Washington
designated the Portovaya and Vysotsk LNG terminals and its
operators, Gazprom SPG Portovaya and Cryogas Vysotsk
respectively. The sanctions will take effect from Feb. 27. 
    LSEG data shows the Velikiy Novgorod vessel loading at
Portovaya and is set to depart on Wednesday. Kpler lists the
vessel's destination as Asia. Velikiy Novgorod had brought two
shipments from Portovaya to Rudong in Jiangsu province, China
last year, according to both Kpler and LSEG data. 
    The previous loading at Portovaya was by the Cool Rover
vessel at the end of December. It is currently discharging at
Huelva, Spain, according to LSEG data. Cool Rover had brought
several LNG shipments from Portovaya to Europe last year,
including to Italy and Spain. 
    At the Vysotsk LNG terminal, the last vessel to load there
was the Coral Evolution, which departed between Jan. 10-11,
showed LSEG and Kpler data. It is due to arrive at Zeebrugge,
Belgium on Jan. 15. 
    Coral Evolution is also scheduled to load twice more at
Vysotsk before sanctions kick in, according to Kpler data. Its
listed load dates are Jan. 25 and Feb. 12 for delivery to
Zeebrugge. 
    Three other vessels are also set to load at Vysotsk. Coral
Nordic and Coral Fungia will load on Jan. 16, while Cool Rover
will load on Jan. 27 and discharge at Cartagena, Spain,
according to Kpler data. 
    As the Portovaya and Vysotsk plants only account for roughly
2.3 million tons per year of capacity, the impact of the
sanctions are not majorly significant for Europe's gas supply,
said a research report from Rabobank.
    "Spain, Belgium and Turkey have imported some volumes from
these terminals and the U.S. could easily supply Europe with
some of these lost volumes if required," it said. 
    Additionally, the U.S. sanctions on Friday which targeted 69
vessels owned by Russian state-owned shipping company Sovcomflot
 FLOT.MM  also included four LNG tankers: Christophe De
Margerie, Pskov, Velikiy Novgorod and Vostochny Prospect. 
    Zhoushan Wison Offshore and Marine Co and HongKong Yaqing
Shipping Co were also designated for supplying power generation
modules to the already sanctioned Arctic LNG 2 project in
Russia. 
    
    

 (Reporting by Emily Chow; Editing by Michael Perry)
 ((emily.chow@thomsonreuters.com; Reuters Messaging:
emily.chow.thomsonreuters.com@reuters.net))