The sanctioned Arctic LNG 2 project in Russia has accelerated cargo loadings and shipments in recent weeks, in a sign that the facility has now found its first customer after more than a year, and new buyers may have emerged—all in China.
Arctic LNG 2 is under sanctions by the United States, the EU, and the UK, which have also blacklisted many of the LNG vessels thought to be servicing the project’s output. The Russian export project has struggled for more than a year to find any buyer willing to risk secondary sanctions.
It appears that Arctic LNG 2 is done waiting and is now sending off loaded LNG cargoes, which could be testing the Trump Administration’s willingness to sanction Russia’s LNG customers in China.
Last week, a sixth LNG tanker loaded from the project in the Arctic this year, Reuters reported on Tuesday, citing vessel-tracking data by Vortexa and Kpler.
In recent weeks, signs have emerged that Arctic LNG 2 is coming back to life after a year of no activity and is looking for buyers in Asia.
La Perouse, a tanker sanctioned by the UK, loaded LNG and departed from Arctic LNG 2 on August 30-31, according to the data cited by Reuters.
Last week, a cargo from the facility docked at a Chinese import terminal in what appears to be Arctic LNG 2, testing the current U.S. willingness to enforce sanctions. The Arctic Mulan LNG tanker arrived at the Beihai LNG terminal, and China received the cargo, making it the first-ever actual exported cargo out of the Russian facility.
Six laden vessels are in transit, Ashley Sherman, senior LNG analyst at Vortexa, wrote on LinkedIn last week.
“In contrast to 2024, these sanctioned vessels have not spoofed or deactivated their AIS signals,” Sherman said, adding that “This year, Russia’s Arctic LNG 2 activity is no longer in the shadows.”
By Tsvetana Paraskova for Oilprice.com
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