Russian LNG Transhipments Likely to Persist Despite EU Phase Out: Fluxys

Russian LNG transhipments are likely to continue despite the EU’s aim to phase out Russian gas imports by 2027 according to Fluxys via Montel.

• Transhipments may persist unless explicitly regulated against said CCO Arno Buex.
• The LNG terminal operator has a 20-year contract, which began in 2019, with Russia’s Yamal LNG for the transhipment of 8m tonnes/year at the Zeebrugge terminal.
• “Zeebrugge is a regulated terminal. That means that by law, we have to provide third-party access, non-discriminatory third-party access,” he said.
• The only motivation for sanctions would be to impact Russia’s economy and not based on energy independence. “Transhipped LNG, by definition, is neutral to the import portfolio, because it’s not imported,” he said.
• “Whether the European Commission or member states – in this case Belgium – take the initiative to include that in future sanction packages, we will see. Frankly, it will depend on how the overall political situation evolves with Russia.”