Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
Latest EU sanctions largely toothless
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
BP’s long stay in Russia
After failed attempts to find a buyer for its stake in Russia’s largest oil producer, BP may be able to avoid the harsh treatment meted out to ExxonMobil and Shell when they exited—and could even restart operations if geopolitical conditions improve
Arbitration with Gazprom: How to collect
A number of companies have filed arbitration claims against Gazprom over non-deliveries of contracted gas or other matters—and won. The next step is to collect the award, but this is no easy task
Power of Siberia 2: Deal or no deal?
There is a good strategic case for China to sign a deal for gas supplies via the proposed Power of Siberia 2 pipeline, but Beijing’s concerns around over-dependence on a single supplier and desire to drive down the price make it relatively unlikely a contract will be finalised this year
Countdown to Mozambique LNG restart
Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
Trump’s Russia threat rings hollow
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
Albania’s long pursuit of gas
Gas is unlikely to assume a major role in Albania’s energy mix for years to come, but two priority projects are making headway and helping to establish the sector
Australia gas security faces fitness test
Reassessment of the country’s export-facing gas policy coincides with worsening domestic market backdrop
Waiting for Arctic LNG 2
Without sanctions relief, there is little reason to believe the latest potential attempt at exports from the Russian liquefaction project will be more successful than the one last summer
South Korea’s transition bottlenecks keep LNG in play
The country’s new government has grand plans for renewables, but the structural changes needed for these policies will take years to carry out
The Christophe de Margerie ice-class LNG tanker docked in the Russian Arctic port of Sabetta in 2017
Russia LNG
Simon Ferrie
27 September 2024
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Russian LNG scrambling to emulate oil’s success

A sanctions-defying ‘shadow fleet’ is being assembled, but it remains unclear where Russia will sell the liquefied gas while Arctic LNG 2 remains strangled by sanctions

Russia has largely been able to circumvent Western sanctions on its crude exports, with flows moving away from their former customers in Europe and towards new markets in China and India. At the same time, product flows have also diverted to fresh buyers, including the Middle East and Latin America. But Moscow has so far struggled to replicate that success with its LNG exports. Shipments from Yamal continue to go to or via Europe, and the bloc’s imports of Russian LNG even increased by 11% year-on-year in the first half of 2024, while LNG from Sakhalin is still dispatched to buyers in East Asia. A newer development, Arctic LNG 2, faced additional Western sanctions and restrictions, delaying

Also in this section
Latest EU sanctions largely toothless
7 August 2025
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
A third distillate disruption
6 August 2025
Diesel market disruptions have propelled crude prices above $100/bl twice in this century, and now oil teeters on the brink of another crude quality crisis
BP’s long stay in Russia
5 August 2025
After failed attempts to find a buyer for its stake in Russia’s largest oil producer, BP may be able to avoid the harsh treatment meted out to ExxonMobil and Shell when they exited—and could even restart operations if geopolitical conditions improve
Arbitration with Gazprom: How to collect
1 August 2025
A number of companies have filed arbitration claims against Gazprom over non-deliveries of contracted gas or other matters—and won. The next step is to collect the award, but this is no easy task

Share PDF with colleagues

Rich Text Editor, message-text
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Rich Text Editor, txt-link-message
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search

  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search