Recent reports suggest that mysterious buyers with suspected Russian ties are acquiring numerous liquefied natural gas (LNG) vessels, potentially expanding Moscow’s covert fleet of tankers.
This development fits with Russia’s approach to bypass Western sanctions, which have heavily impacted its oil industry and are now starting to influence LNG exports. As reported by Bloomberg, one highlighted vessel, the Asya Energy, exemplifies the trend. Renamed in May, it navigates without a known insurer and is managed by an obscure company based in a UAE free trade zone notorious for its lack of transparency. Three other LNG carriers managed by the company follow a similar pattern.
EU’s sanctions target Russian LNG
The EU’s recent sanctions, including a historic ban on LNG transshipment, reflect increased efforts to reduce dependency on Russian gas. According to AP, in an effort to push Russia into using more costly routes for energy purposes, EU ministers said in a statement, the EU will “forbid reloading services of Russian LNG in EU territory for the purpose of transshipment operations to third countries.”
The EU estimates that about 4-to-6 billion cubic meters (141 billion-212 billion cubic feet) of Russian LNG was shipped to third countries via EU ports last year. Over 50 LNG vessels have reportedly been transferred to companies based in the UAE since mid-2023. This mirrors tactics used in building Russia’s “ghost fleet” of oil tankers.
The Northern Sea Route
Meanwhile, according to Kpler, in a milestone for Arctic shipping this year, the Eduard Toll Arc-7 ice-breaking LNG tanker has successfully transported its cargo from the Yamal LNG plant in Russia to China’s Fujian terminal via the Northern Sea Route (NSR).
