Cargoes of LNG produced in Russia have been imported into Europe as calls for bans on Russian shipments of oil and gas send futures markets spiralling into uncharted territory.
The Dynagas-owned, 172,600-cbm Arc7 LNG carrier Boris Vilkitsky (built 2017) arrived at Montoir-de-Bretagne terminal in western France on 5 March.
The Yamal Trade-chartered ship, which is carrying a cargo produced by Novatek’s Yamal LNG project — in which French energy major TotalEnergies holds a 20% stake — was met by a protest from Greenpeace environmental activists who unfurled banners near the vessel reading “Fossil Fuels War”.
Greenpeace International said it was highlighting the “historical responsibility of fossil fuels in triggering and financing international conflict and to call on Europe to divest from Russian oil and gas and push for investment in renewable energies”.
The vessel discharged its cargo and headed back to Yamal LNG, where it is scheduled to arrive on 14 March.
The 172,600-cbm Fedor Litke (built 2017) discharged at the Zeebrugge LNG terminal in Belgium on Sunday. The ship diverted there from its original destination of Grain LNG to the east of London after the UK banned the entry of Russian vessels at its ports last week in the wake of Russia’s invasion of Ukraine on 24 February.
Russian shipowner Sovcomflot’s Arc7 LNG carrier the 172,600-cbm Christophe de Margerie (built 2017) unloaded at the Gate LNG terminal in the Netherlands on 4 March.
Other Russian-produced LNG cargoes — either those being shipped directly from Yamal or transshipped onto other LNG tonnage — have also signalled northwest Europe as their destination.
The 172,600-cbm Nikolay Urvantsev (built 2019) is due to arrive in Bilbao, Spain on 9 March.
Eikland Energy data service iGIS/LNG detailed that TMS Cardiff Gas’ 174,000-cbm Pearl LNG (built 2020) transshipped a Russian cargo from the Christophe de Margerie at Montoir that was shipped into the UK’s Dragon LNG terminal in south Wales on 2 March.
The shipments come amid fresh talk of bans on Russian oil and gas imports by the US and Europe as Russia intensifies its military action in Ukraine.
Energy markets reacted wildly on opening Monday
The price of the oil benchmark Brent crude reached almost $140 per barrel, its highest since the global financial crisis of 2008.
Gas, which is less easily substituted than oil, also showed dramatic and record increases, with futures prices shooting skywards by 70%.
Traders said these doubled in three hours at one point, pricing gas at the equivalent of $600 per barrel of oil before falling back.
