Finnish energy provider Gasum has started buying Russian LNG again, but kept a laden vessel circling in the Baltic Sea due to an uncertain demand picture.
YLE reported that the chartered 15,600-cbm LNG carrier Coral Energy (built 2012) left Vysotsk in Russia on Saturday.
The broadcaster claims the ship must keep steaming and is unable to dock because the LNG will lose its constant temperature of -163C and start to evaporate.
Gasum deputy chief executive Anders Malm told YLE on Tuesday that the need to keep the vessel moving was caused by the instability of supply and demand in the energy market due to Russia’s war in Ukraine.
“This volatility is difficult to predict, and currently demand for LNG is lower than before. At the moment, we have more transport capacity than demand and therefore some of our ships are waiting in the Baltic Sea,” he said.
Environmentalists in Finland have criticised this constant steaming.
Malm said the company plans to introduce more sustainable solutions in the future: “We constantly evaluate sustainability in our operations. We are currently mapping out different ways to reduce our environmental impact. This includes both technical investments and ship optimisation.”
AIS data showed the Coral Energy heading to Fredrikstad in Norway on Wednesday morning. It is due to arrive there on 20 July.
Malm told TradeWinds on Wednesday that the ship had been in a holding pattern in the Baltic to unload at Gasum’s terminal in Nynashamn in Sweden on Monday.
“After discharging part of the load in Nynashamn, Coral Energy is now heading for our terminal in Ora [Norway] to discharge there,” he added.
“All activities for this load are linked to feeder Gasum terminals.”
Gasum said earlier this week that it had resumed LNG purchases from the Kryogaz-Vysotsk plant controlled by Russia’s Novatek.
Delivered into Finland
Leonid Mikhelson, head of Novatek, said last month that Gasum had not been taking LNG from the project since April.
Shipping data showed that the 18,000-cbm sister ship Coral Energice (built 2018) delivered a cargo from Kryogaz-Vysotsk to the Finnish port of Tornio on 3 July.
The vessel is now at anchorage off Tallinn in Estonia.
“I can confirm that we have picked up LNG from Vysotsk. Gasum has a long-term LNG supply contract with Gazprom Export,” a Gasum spokesperson told Reuters, adding that there have been no changes to its take-or-pay agreement.
The two vessels are owned by Anthony Veder in the Netherlands.
