Latest EU Sanctions on Russia Show Importance of LNG: Platts

The latest EU sanctions on Russia signals the importance of LNG for Europe, Europe, Takashi Uchida, chairman of the Japan Gas Association said July 9, following the EU’s introduction of its 14^th sanctions package against Russia, Platts said.

• "My candid but personal view on Russian LNG sanctions is that I feel it is finally started," Uchida said.
• "The forthcoming sanctions specifically target transshipments [of Russian LNG] in the EU territory for delivery to other areas, and it is notable that [the sanctions] will not restrict shipments from Yamal into Europe," Uchida said.
• A ban on transshipments is expected to see more Russian LNG remain in Europe at the expense of Asia, Platts said.
• Tokyo Gas imported 1.83m mt of LNG from Russia, where it has a long-term contract to lift 1.1m mtpa of LNG from the Sakhalin 2 project.