The second known tanker to carry Russian Arctic LNG in China
Ship-tracking data revealed that another tanker carrying liquefied gas from Russia’s sanctioned Arctic LNG 2 Project docked at a Chinese port days after Russian president Vladimir Putin met China’s leader Xi Jinping. The LSEG data showed that the Russian LNG tanker Voskhod was anchored in the port Tieshan, in China's southwest province of Guangxi. LSEG data revealed that the Russian flagged LNG tanker with a cargo of 150 000 cubic metres was loaded at Arctic LNG 2 in Gydan, northern Siberia, on July 19.
Source: Despite cargo loadings at the Arctic LNG 2 project in Russia, production problems persist.
A source with knowledge of the situation said on Tuesday that the first production train is only running at half capacity at Russia's Arctic LNG 2 facility, which is under U.S. sanction due to Moscow's conflict in Ukraine. Meanwhile, its second production train is experiencing production problems. Source: The first train runs at 55% of its production capacity while the second is plagued by serious electrical problems and cannot load any cargoes. Arctic LNG 2 also aims to load 30 cargoes before the end of the year, based upon production from the first train at the plant, said the source.
Sanctioned Arctic Mulan LNG Tanker Berths in China
A tanker carrying liquefied natural gas from Russia's sanctioned Arctic LNG 2 plant has moored at an import terminal in southern China on Thursday, after loading at a Russian storage facility in June, Kpler and LSEG ship-tracking data showed.If the tanker discharges the LNG at the terminal, this would be the first cargo from the Arctic LNG 2 project to be received. The project is targeted by Western sanctions over Russia's war with Ukraine.The Arctic Mulan LNG tanker was idling off the coast of Egypt from February to April before travelling through the Suez Canal…
US and Russian officials discussed the latest Ukraine peace talks alongside energy deals
Five sources familiar with these talks claim that U.S. officials and Russian government officials discussed energy deals in parallel to negotiations to achieve peace in Ukraine this month. They said that these deals were presented as incentives for Washington to relax sanctions against Russia and to encourage the Kremlin into peace in Ukraine. Due to sanctions imposed after the Ukraine invasion in February 2022, Russia is no longer able to attract international investment into its energy sector or make major deals.
US and Russian officials discussed the latest Ukraine peace talks alongside energy deals
Five sources familiar with these talks claim that U.S. officials and Russian government officials discussed energy deals in parallel to negotiations to achieve peace in Ukraine this month. They said that these deals were presented as incentives for the Kremlin, to encourage it to accept peace in Ukraine and Washington to ease sanctions against Russia. Due to sanctions imposed after the Ukraine invasion in February 2022, Russia is no longer able to attract major international investments in its energy sector or sign large deals.
Putin sees the 'light at the end of tunnel' for Russia-US relations, and cooperation in Arctic Alaska
Vladimir Putin, President of Russia and the United States, said that "light is at the end" of the tunnel in Russia-U.S. Relations and that both countries are discussing joint projects for the Arctic and Alaska. In response to questions from reporters during a tour of a nuclear research center, the Russian president said that he believed Donald Trump's leadership skills would be instrumental in helping to restore relations. "I think the light at the end has finally appeared with the arrival of Donald Trump." "We had a good, meaningful, and frank summit in Alaska," Putin said.
Vedomosti reports that Murmansk LNG is facing delays of years.
Vedomosti reported Wednesday that the start of production for Murmansk LNG - a project to produce liquefied gas led by Novatek - has been delayed by several years. The newspaper cited updated government plans. The reported delay is another challenge for Russia. It aims to reach a 20% market share on the global LNG by 2030-35, where it will compete with Qatar, Australia, and the United States. Murmansk LNG is set to be the largest LNG plant in Russia, producing up to 20.4 million tonnes of LNG per year. The first two trains were expected to begin production by the end 2027.
Russian LNG exports dropped 4.4% year-on-year in January to June, according to data
LSEG's preliminary data on Wednesday showed that Russia's liquefied gas exports in the first six months of this year fell by 4.4% compared to a year ago, reaching 15.2 million metric tonnes. This was despite international sanctions over Ukraine. The United States, in particular, has imposed sanctions against companies and vessels connected to Russia's Arctic LNG 2 plant due to the conflict in Ukraine. This effectively freezes the project as Moscow is unable find buyers. U.S. president Donald Trump said that he wanted the European Union (EU) to buy more U.S.
Source: Russian government talks tax relief for Gazprom
A government source revealed on Monday that the Russian government is considering tax reliefs for the energy giant Gazprom. These could be offset by higher taxes on gas producers in general. Novatek and Rosneft, two other major gas producers in Russia, are also listed. Moscow must balance the need for increased military spending in the face of the conflict in Ukraine, with the rising budget deficit as well as providing adequate support to Gazprom which has seen its lucrative sales into Europe fall. Gazprom lost almost $7 billion dollars in 2023. This was its first loss in over 20 years.
Russian Yamal LNG Plant Ships First Cargo This Season Via Northern Sea Route
Russia's Yamal LNG plant, operated by Novatek, has dispatched a first cargo of liquefied natural gas this season via the Northern Sea Route to China, Kommersant daily reported on Friday, citing Kpler data.It said the Arc 7 ice-class tanker Georgiy Ushakov left the port of Sabetta on June 19 and has been moving eastward along Russia's Arctic shore.The route, challenging due to thick ice and cold weather during the winter season, gained more importance over the past few years as Europe, once the largest buyer of Russia's fossil fuels, imposed a number of sanctions against Moscow over the conflic
Russian LNG exports dropped 3% year-on-year in January to May, according to data
LSEG released preliminary data on Monday showing that Russia's LNG exports in the first five month of this year fell by 3% compared to a year ago, reaching 13,2 million metric tonnes. This is due to the impact of sanctions. Due to the conflict in Ukraine, the United States has placed sanctions on Russian companies and vessels that are linked with the new Arctic LNG 2 facility. This effectively freezes the project as Moscow is unable to find buyers. U.S. president Donald Trump said that he wanted the European Union (EU) to buy more U.S. LNG, and he would make it more available.
Russia's Arctic LNG 2 Plant Shuts Down First Production Train In Absence of Tankers
Russia's Arctic LNG 2 plant, currently under U.S.
Russian Arctic LNG 2 Starts Second Production Train
Russia's Arctic LNG 2 plant, which is subject to U.S. sanctions, has started production at its second train even after it has been unable to sell liquefied natural gas from a first train, a source familiar with the matter told Reuters.Russian energy company Novatek declined to comment.It owns 60% in the plant located on the Gydan peninsula that juts into the Kara Sea and had been set to become one of Russia's largest LNG plants with an eventual output of 19.8 million metric tons per year at three trains.Novatek began production at Arctic LNG in December 2023…
Data shows that Russia's LNG imports fell by 1.2% year-on-year in the first quarter of 2018.
LSEG's preliminary data on Tuesday showed that Russia's LNG exports in the first quarter of this year fell by 1.2% compared to a year ago, reaching 8.1 million metric tonnes. Due to U.S. sanctions over the invasion of Ukraine, Russia has been unable to increase its LNG exports. The new Arctic LNG 2 facility has effectively been frozen due to the Western sanctions. According to two sources, Arctic LNG 2 resumed processing in the last month. According to LSEG, Russia's exports of LNG rose 3.7% in March, from 2.7 millions tons a year earlier.
Data shows that Russia's LNG exports between January and February fell 7.3%.
LSEG released preliminary data on Friday showing that Russia's LNG exports in the first half of this year were down 7.3% compared to a year ago, at 5.1 million metric tonnes. This was due to sanctions and the Sakhalin-2 supply cut. Due to U.S. sanctions over the conflict in Ukraine, Russia has been unable to increase LNG exports. The new Arctic LNG 2 facility has effectively been frozen due to the Western sanctions. According to LSEG, Russia's exports of LNG fell by 8% in February, from 2,57 million to 2,36 million tonnages a year earlier.
Data shows that Portovaya, Kryogaz-Vysotsk and other Russian LNG exporters have stopped LNG exports due to sanctions.
LSEG data on Thursday showed that two small-scale Russian LNG producers located along the Baltic Sea shores, Portovaya LNG, and Kryogaz Vysotsk have stopped LNG deliveries. This is due to the U.S. sanctions. Washington introduced new sanctions last month against Russia for the conflict in Ukraine. These included the two nuclear plants. There was a grace period up until the 27th of February. LSEG data show that Kryogaz-Vysotsk (controlled by Novatek and Gazprombank) last shipped a cargo in February, with delivery at the Zeebrugge terminal in Belgium on February 22.
Experts say that Russia is struggling to meet its LNG targets
Experts said that due to the international sanctions, Russia's LNG exports will probably not reach 67 million tons by 2030. This is far below its target of 100 million tons. Russia is focusing on developing LNG that can be transported by sea tankers as its gas exports from pipelines to Europe are down due to the conflict in Ukraine. It has also struggled to increase LNG to China. The company plans to increase its market share to the fifth position on the global LNG markets by 2030-2035.
India demands that Russian oil suppliers comply with sanctions
India, the world's No.2 importer of crude oil from Russia, wants to buy Russian oil only if it is supplied by companies and ships that have not been sanctioned by the United States. India, the No. 2 importer from Russia of crude oil, will only buy Russian oil if the oil is supplied by ships and companies that are not sanctioned by America, according to the oil secretary. The escalating sanctions imposed by the west, including the United States, on Moscow have disrupted global…
Novatek, a Russian company, says its net profit for 2024 will rise to $5.2 billion
Novatek, Russia's largest LNG producer, announced on Wednesday that its net profit for 2024 increased by 6.5% and reached 493.5 billion Rubles ($5.18 Billion) as production increased. Novatek is a major target of Western sanctions against Russia due to the conflict in Ukraine. The new Arctic LNG 2 project, tentatively started production of LNG in December 2023 on the Gydan Peninsula, which extends into the Kara Sea. However, the product has been difficult to sell. Foreign shareholders…
Data shows that Russia's LNG exports in January fell by 5%.
LSEG's preliminary data on Monday showed that Russia's LNG exports in January were down 5% compared to a year ago, at 2.75 million metric tonnes. Exports of LNG were down by 10% compared to December. Due to U.S. sanctions over the conflict in Ukraine, Russia has been unable to increase LNG exports. The new Arctic LNG 2 facility has effectively been frozen due to the Western sanctions. The data show that Russia's exports of LNG to Europe have fallen 17.6% on an annual basis and 22% since December, to 1.4 millions tons.