MNI INTERVIEW: Fed QT Likely To Linger After Rate Cuts Start

MNI BRIEF: BOE Markets Head Sees Wider Collateral, More Repos

MNI PBOC WATCH: PBOC Cuts 7-Day Rate As Reconfigures Framework

MNI China Daily Summary: Monday, July 22

MNI BRIEF: PBOC Lowers Ceiling of Its Interest Corridor

MNI: PBOC Sets Yuan Parity Higher At 7.1335 Mon; -1.18% Y/Y

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

CBRT Data Watch

NBH Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Belgium Seeking EU Ban on Transhipments of Russian LNG

LNG
Energy BulletsCommodities

Belgium is looking for EU countries to ban transhipments of Russian LNG at European ports according to Montel as they provide revenue to Russia but have little impact on European security of supply.

  • “We can help Ukraine but if at the same time we feed Putin’s coffers, it makes no sense,” said a Belgian energy ministry spokeswoman told Montel on Monday.
  • “The [energy] minister is convinced that [banning transhipments via the [next] sanctions package is the most efficient and least legally risky way.”
  • Energy Minister Van der Straeten to have meetings to prepare a draft proposition for the EU Council, the spokeswoman added.
  • The European Commission plans to propose a ban on transhipments of Russian LNG in next the Russia sanctions package, Reuters sources said last week.
  • Zeebrugge carried out nearly 2bcm of Russian LNG transhipments and France’s Montoir-de-Bretagne carried out 0.3bcm in Q1 2024 according to IEEFA based on Kpler data.
  • TotalEnergies has a long-term contract for 1m tonnes/year for transhipments from Yamal via Montoir-de-Bretagne until 2041 while Shell also has a contact in place for 0.9m tonnes/year.
179 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Belgium is looking for EU countries to ban transhipments of Russian LNG at European ports according to Montel as they provide revenue to Russia but have little impact on European security of supply.

  • “We can help Ukraine but if at the same time we feed Putin’s coffers, it makes no sense,” said a Belgian energy ministry spokeswoman told Montel on Monday.
  • “The [energy] minister is convinced that [banning transhipments via the [next] sanctions package is the most efficient and least legally risky way.”
  • Energy Minister Van der Straeten to have meetings to prepare a draft proposition for the EU Council, the spokeswoman added.
  • The European Commission plans to propose a ban on transhipments of Russian LNG in next the Russia sanctions package, Reuters sources said last week.
  • Zeebrugge carried out nearly 2bcm of Russian LNG transhipments and France’s Montoir-de-Bretagne carried out 0.3bcm in Q1 2024 according to IEEFA based on Kpler data.
  • TotalEnergies has a long-term contract for 1m tonnes/year for transhipments from Yamal via Montoir-de-Bretagne until 2041 while Shell also has a contact in place for 0.9m tonnes/year.