Articles tagged Russia

The U.S. government has imposed additional sanctions to hinder operations at Russia’s Arctic LNG 2 by further targeting a shadow fleet of tankers assembled to move cargoes from the facility.

The U.S. Treasury Department has targeted sanctions against more Russian-linked LNG vessels and companies days after satellite images and ship tracking data indicated PAO Novatek could be amassing a shadow fleet to export cargoes from its Arctic LNG 2 project.

Despite efforts to ban Russian natural gas imports, Europe has been taking in more of it as higher spot prices in the Pacific Basin in recent weeks have drawn more American supplies toward Asia.

NO. 1: Cheniere Energy Inc. expects to produce first LNG at its Corpus Christi LNG (CCL) expansion project in South Texas by the end of this year. The company also is planning to introduce natural gas to Train 1 in two months, management said Thursday.

Natural gas venting and flaring rates by U.S. operators fell to an 18-year low in 2023, based on preliminary state level data gathered by the U.S. Energy Information Administration (EIA).

NO. 1: Saudi Arabian Oil Co., aka Aramco, has signed a tentative agreement to purchase 1.2 million metric tons/year (mmty) of LNG from NextDecade Corp.’s Rio Grande export project in South Texas.

European Union (EU) lawmakers approved new rules that would allow member countries to limit LNG imports from Russia as cargoes continue to hit Europe’s ports in record numbers.

NO. 1: The Biden administration has rejected a proposal from House Speaker Mike Johnson (R-LA) to tie a national security package to a temporary pause on new LNG export authorizations. 

Russia’s Gazprom PJSC will reportedly increase its ownership of Sakhalin 2 LNG project, placing more of the country’s export capacity under state-owned company’s control as sanctions continue to pressure its oil and pipeline gas revenues.

While LNG demand still remains mostly lax across Europe and Asia, the specter of supply volatility helped stoke global prices Monday as traders reacted to a bevy of attacks in Russia and Ukraine.