What EU Sanctions on Russian LNG Would Mean for Global Gas
- Russia transships some of its Arctic fuel at ports in Europe
- Asian buyers, European companies with contracts seen affected
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Since the start of Russia’s invasion of Ukraine, Europe and its allies have looked for ways to curb Moscow’s fossil fuel revenues without inflicting higher energy costs on their own citizens. The latest plan: ban use of European Union ports for re-exporting liquefied natural gas.
Russian producer Novatek PJSC relies on stopovers in the EU to move Arctic fuel from ice-class ships onto conventional tankers. While choking off its access won’t prevent cargoes from reaching Europe — where LNG imports from Russia have actually increased in the aftermath of the war — it will make it harder to send them onward to third countries in Asia, potentially angering key buyers such as China or India.