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First Cargo from Russia's Portovaya LNG Heading for Greece

LNG

The first LNG cargo from Russia’s newest LNG export plant of Portovaya is currently heading to Greece.

  • If the cargo discharges there, it is not yet clear if the buyer is Greece or a neighbor.
  • Gazprom started its Portovaya LNG plant last month.
  • The buyer of the Russian LNG shipment appears to be Greece’s MYTILINEOS, according to local reports. Greece has not imported an LNG shipment from Russia since 2020., breaking tradition for what is typically a piped gas market.
  • There are currently no sanctions on Russian LNG in Europe. The Greek government has been a vocal supporter of capping Russian gas prices but keeping flows running to avoid market shortfalls.
Energy BulletsCommodities
Energy BulletsCommodities

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