Russia Plans Ship-to-Ship LNG Transfers

Russia is planning to implement ship-to-ship transfers of liquefied natural gas (LNG) and gas condensate in the Barents and Bering Seas to address a shortage of ice-class tankers, particularly for its largest LNG producer, Novatek. This initiative comes in anticipation of a ban on Russian LNG loadings in EU ports starting March 2025, intensifying the need for alternative shipping solutions. The first transfer facility will be established near Chosha Bay, followed by another in Kresta Bay, with each capable of handling 4.1 million cubic meters of LNG and 1.4 million cubic meters of gas condensate annually. Meanwhile, Belgium is resuming controversial transshipments of Russian LNG destined for Asia at its Zeebrugge terminal, with shipments set to occur before the impending EU ban. This practice faces scrutiny as the EU seeks to reduce reliance on Russian energy resources, despite some member states continuing to import Russian LNG. The ongoing geopolitical tensions are pushing both Russia and European nations to adapt their energy strategies in light of sanctions and regulatory changes.