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LNG: EU Ban on Russian LNG Transshipment to Start amid Rising Imports: Platts

LNG
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The EU aims to end Russian fossil fuel imports by 2027, with the 14th sanctions package prohibiting transshipment of Russian LNG through EU ports from March, Platts said.

  • A new regulation also allows member states to restrict Russian gas and LNG supplies.
  • Nonetheless, Russian LNG still makes up a significant portion of EU gas imports. Analysts expect the transshipment ban to impact Asia more than Europe; limiting transit to Asia could increase Russian LNG in the EU gas network.
  • Consequently, the transshipment ban's effect on European imports is unclear without an outright ban, Platts said.
  • Meanwhile, Russian LNG is still being imported into parts of Europe. On Dec. 17, Italy received its first Russian LNG cargo since March 2023.
  • The EU imported 14.9m mt of Russian LNG in 2024, up from 13.9m mt in 2023.
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Source: S&P Global Commodity Insights
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The EU aims to end Russian fossil fuel imports by 2027, with the 14th sanctions package prohibiting transshipment of Russian LNG through EU ports from March, Platts said.

  • A new regulation also allows member states to restrict Russian gas and LNG supplies.
  • Nonetheless, Russian LNG still makes up a significant portion of EU gas imports. Analysts expect the transshipment ban to impact Asia more than Europe; limiting transit to Asia could increase Russian LNG in the EU gas network.
  • Consequently, the transshipment ban's effect on European imports is unclear without an outright ban, Platts said.
  • Meanwhile, Russian LNG is still being imported into parts of Europe. On Dec. 17, Italy received its first Russian LNG cargo since March 2023.
  • The EU imported 14.9m mt of Russian LNG in 2024, up from 13.9m mt in 2023.
image
Source: S&P Global Commodity Insights