 "Oil Tanker (Bloomberg)")
The estimated time of arrival is set for Sept. 19 | (Bloomberg)
A liquefied natural gas tanker sanctioned by the US has been moving east from the Arctic LNG 2 plant along Russia’s Northern Sea Route, LSEG ship tracking data showed on Monday.
Washington has recently imposed additional sanctions against Russia for its war with Ukraine, including against Arctic LNG 2, an important facility for the Kremlin’s drive to boost Russia’s share of the global LNG market to a fifth by 2030-2035.
According to the LSEG data, Everest Energy, which came under US sanctions last month, was loaded with LNG at the Arctic LNG 2 site and is now on its way from the Kara Sea to the Laptev Sea along the NSR, which Moscow wants to turn into a new Suez Canal.
The route from Murmansk near Russia’s border with Norway to the Bering Strait near Alaska is physically challenging, often requiring the assistance of icebreakers, but could cut sea transport times between Europe and Asia.
The final destination for the cargo has not been disclosed.
The estimated time of arrival is set for Sept. 19.
The Arctic LNG 2 project, 60 per cent owned by Novatek, is also subject to Western sanctions over Russia’s conflict with Ukraine. The project had been set to become Russia’s largest LNG plant with eventual output of 19.8 million metric tons per year.
Everest Energy had previously picked up cargo from the Arctic LNG 2 plant, according to data firm Kpler, which said it was loaded on Aug. 25 and discharged at a floating storage unit in Murmansk, north Russia on Aug. 29.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Sep 09 2024 | 2:54 PM IST
