LNG: Russia’s Arctic 2 LNG Triples July Runs amid Export Prep

Russia’s sanctioned Arctic LNG 2 project sharply hiked processing in July as it prepared to start LNG exports, defying US restrictions, Bloomberg said.

• Arctic LNG 2 processed 28.7 mcm of gas in July, 3.5 times more than in June and a three-month high.
• The hike comes as the facility prepared for its first LNG exports which were loaded in August.
• In August to date, three tankers: the Pioneer, Aysa Energy, and Everest Energy, have loaded LNG cargoes from the facility. 
• All of them are suspected as being the “dark fleet” circumventing western sanctions.
• Gas production at the fields that feed Arctic LNG 2 rose to 48 mcm in July, a two-month high.
• While volumes were up in July, they remain well below the design capacity from the single train currently operational of the three planned. Train one has a nameplate capacity of 6.6m mtpa (9.1 bcm).