Russia May Step Up Fuel Exports to Asia as EU Curbs Tighten
- FGE says pickup in naphtha flows possible despite soft demand
- More cargoes may be directed to hubs including Singapore
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Russia may try to push greater volumes of a key oil product into Asia, possibly blending some with crude oil, in a bid to find alternative markets as European sanctions tighten, according to FGE.
More Russian-made naphtha -- a fuel primarily used to make plastics -- is likely to head into hubs such as Singapore and Fujairah from February when EU sanctions kick in, said Armaan Ashraf, global head of natural gas liquids at the consultancy. Re-exports from these regions could become common as some buyers shy away from direct imports from Russia, he said in an interview.