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LNG: EU Considers Gradual Ban on Russian LNG

LNG
Energy BulletsBulletPower BulletsCommodities

The EU is considering a gradual ban on Russian LNG as part of measures for its 16th sanctions package according to Bloomberg sources.

  • Exiting LNG could be done either as a sanction or as part of a road map that the bloc’s executive arm is set to present next month, they said.
  • 10 EU nations were reported this week to have urged the bloc to toughen sanctions on Russian natural gas and LNG.
  • Opposition from members like Slovakia and Hungary makes an outright ban on pipeline gas problem for the EU as it fails to unanimous support for such measures but LNG appears more likely.
  • The US and EU have been gradually sanctioning some Russian LNG projects, but the shift puts Europe in a challenging situation after it imported record LNG volumes from Russia last year.
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The EU is considering a gradual ban on Russian LNG as part of measures for its 16th sanctions package according to Bloomberg sources.

  • Exiting LNG could be done either as a sanction or as part of a road map that the bloc’s executive arm is set to present next month, they said.
  • 10 EU nations were reported this week to have urged the bloc to toughen sanctions on Russian natural gas and LNG.
  • Opposition from members like Slovakia and Hungary makes an outright ban on pipeline gas problem for the EU as it fails to unanimous support for such measures but LNG appears more likely.
  • The US and EU have been gradually sanctioning some Russian LNG projects, but the shift puts Europe in a challenging situation after it imported record LNG volumes from Russia last year.