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LNG Dark Fleet Could Emerge to Transfer Russian Gas: Flex LNG

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Russia could be building an ‘LNG dark fleet’ to transport natural gas cargoes in the face of Western sanctions, mirroring operations in the oil market, shipowner Flex LNG said May 23, cited by Platts.

  • While existing sanctions on shipping Russian LNG have been limited and focused mostly on restricting buyers.
  • The US and UK have also sanctioned the new Arctic LNG 2 project with a total capacity 19.8 mtpa.
  • The EU is also looking at restricting exports of Russian LNG that landed at EU ports to other markets. It is still not clear whether such a measure would target ship-to-ship transfers as they could take place in international waters.
  • However, even if the EU was to reduce purchases of Russian LNG, cargoes would still flow to willing buyers in Brazil, India, China, and South Africa. This would result in longer sailing distances.
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Russia could be building an ‘LNG dark fleet’ to transport natural gas cargoes in the face of Western sanctions, mirroring operations in the oil market, shipowner Flex LNG said May 23, cited by Platts.

  • While existing sanctions on shipping Russian LNG have been limited and focused mostly on restricting buyers.
  • The US and UK have also sanctioned the new Arctic LNG 2 project with a total capacity 19.8 mtpa.
  • The EU is also looking at restricting exports of Russian LNG that landed at EU ports to other markets. It is still not clear whether such a measure would target ship-to-ship transfers as they could take place in international waters.
  • However, even if the EU was to reduce purchases of Russian LNG, cargoes would still flow to willing buyers in Brazil, India, China, and South Africa. This would result in longer sailing distances.