Russia doubles LNG shadow fleet in a year to boost gas exports – Bloomberg
Russia has nearly doubled its fleet of tankers transporting liquefied natural gas from the sanctioned Arctic LNG 2 project in less than a year, as Moscow seeks to expand lucrative fuel exports despite Western restrictions.
In just one year, Russia has doubled its shadow fleet of liquefied natural gas (LNG) tankers to bolster gas exports, according to a Bloomberg analysis of vessel-tracking data. The fleet, comprised primarily of vessels with unclear ownership, has grown from 11 to at least 20 tankers. This expansion is aimed at transporting LNG from the sanctioned Arctic LNG 2 complex and related infrastructure.
One of the latest additions to the fleet is a modern, Russian-built ice-class tanker, designed for year-round operations in icy waters. This tanker was recently loading gas at the Arctic LNG 2 site. The expansion comes as Russia seeks new markets for its gas, previously shipped to Europe via pipeline, following US and European sanctions on the Arctic LNG 2 project.
Despite the sanctions, China remains the only buyer of the sanctioned LNG. China and Russia recently met to discuss gas-related issues during the Shanghai Cooperation Organisation summit. The US has taken a more lenient stance on Russia's gas sector and its expanding shadow fleet, unlike the Biden administration, which imposed sanctions on Russian LNG projects.
To utilize the Arctic LNG 2 at full capacity, Russia needs to further expand its fleet, as ice-class vessels are essential for navigating Arctic ice even in winter. Currently, three Arc7-class tankers and several more under construction are operational, with one due to enter service by the end of the year. Additionally, Russia has 12 conventional tankers for long-haul voyages to China during winter months, when the northern route to Asia is blocked by heavy ice.
Moscow may need up to 30 conventional tankers to operate Arctic LNG 2 at full capacity, indicating a continued expansion of its shadow fleet.
Written by urgent.news from Ukrinform - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
