Moscow, after creating a shadow fleet to transport its oil, decided to “get” liquid gas.
Russia, amid Western sanctions, has assembled a shadow fleet to transport its oil around the world, and now there is growing evidence that Moscow has begun doing the same with liquefied natural gas. This was reported by Bloomberg news agency.
Gas is key to the Kremlin’s plans to boost exports, fill state coffers and fund its war machine, but it needs a bigger share of the global LNG market now that the lucrative European pipeline trade has dried up. , said the media.
So far, expansion plans have been stymied by US sanctions, which prevent foreign companies from entering the Arctic and stop the supply of specialized icebreakers vital to reaching Arctic sites. While new European restrictions coming next year limiting access to ports will further complicate the current supply chain.
“There are some clear signs that Russia is making efforts to create a shadow fleet for LNG,” said Malte Humpert, founder of the Arctic Institute, a think tank in Washington, DC.
We are talking about the following: the purchase of old carriers, the transfer of ice-class ships to a business in Dubai and a record number of permits for the Northern Sea Route indicate that “in terms of the shadow fleet, all fit into a puzzle.”
According to Equasis, the four new ice-class vessels were separately acquired by White Fox Ship Management, also based in Dubai. Russia recently approved vessels – North Air, North Mountain, North Sky and North Way – to sail in the Arctic this summer.
There is no doubt that Russia, as the fourth largest exporter of LNG, will continue to look for alternative routes to market. The US has imposed separate sanctions to prevent the start of exports from Arctic LNG 2, a new facility being built by Novatek, Russia’s largest LNG exporter.
A parallel fleet could exceed the cap and would be a blow to a key area where Western sanctions have an immediate and tangible impact, making it easier for Moscow to shore up its wartime economy.
Earlier we wrote that the Indian company Reliance refused to supply Russian oil to Sovcomflot tankers.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.