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Japan See Logistical Challenge for Arctic LNG-2 Supply due to US Sanctions

LNG

Japan is facing logistical difficulties for LNG deliveries due to US sanctions on the use of Russian transshipment terminals according to Daisuke Harada at JOGMEC.

  • Transshipment terminals in Kamchatka and Murmansk will be used to transfer LNG to buyers enabling Russia to reduce costs of shipping LNG from its Arctic projects according to Bloomberg.
  • “Kamchatka is an important part of the Northern Sea Route usage,” said Harada. “After Arctic LNG-2 is commissioned, hopefully next January, we don’t know how to deliver.”
  • Harada suggested other options include using icebreakers for direct journeys from Russia to Japan or transshipments via other existing ports.
  • Russia’s share of LNG supply in Japan rose from 8.8% in 2021 to 9.5% in 2022 and is expected as much as 13% after the start of Arctic LNG-2 according to JOGMEC.
Energy BulletsCommoditiesBank of Japan (BOJ) Market News
Energy BulletsCommoditiesBank of Japan (BOJ) Market News

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