Last year, the European Union was the largest buyer of Russian liquefied natural gas, purchasing more than 6 billion euros. Spain and France were particularly distinguished by the volume of purchases.
Now LNG exports to the European Union have reached their maximum again. According to the Institute for Economics, Energy and Financial Analysis, France, Spain and Belgium remain in the lead (87%). Exports to France doubled.
In Europe, they admit: “Yes, we are forced to buy, because there are few alternatives.” But they remain “committed to the desire to limit and completely stop trade with Russia in the future.”
French Energy Minister Agnes Pannier-Ronacher said there was a need for “the highest level of transparency” regarding LNG. Stressing that this is necessary to “eliminate increasing dependence.”
The West periodically tries to analyze how Russia circumvents sanctions. Bloomberg reported that there are more than 600 “gray” tankers carrying sanctioned gas and oil.
The Financial Times reported that 50 used ships were purchased by unknown Middle Eastern companies.
Recently, Western media updated their data. Bloomberg claims that the “Shadow Fleet” has been renewed. Mathias Ship Management Company, registered in August in Dubai, purchased three ships.
The agency noted that “Russia uses a network of fictitious companies extending from Dubai to China to transport gas from the “Arctic-2” liquefied natural gas terminal, and the ambiguous ownership structure is a typical feature of the shadow fleet.”
Novotek, a natural gas production company in Russia, confirmed that it is not involved in the private “shadow fleet.”
Belgium threatened that the mechanism being developed to track the source of liquefied natural gas would allow “to detect and prevent export operations.”
Independent industrial expert Leonid Khazanov stated, “It is not entirely clear how this is possible. There is no bank of gas samples, and it is not easy to track the movement of tankers. However, the stricter the sanctions, the more expensive energy sources will be for Europe.”
The fact that the largest buyers are beginning to expand inspections of tankers carrying LNG to Europe has not surprised observers. However, if the “shadow fleet” exists, it means that someone needs it.
“To those who make loud statements against Moscow, this initiative is purely propaganda and will lead to nothing,” said Pavel Mareshev, a member of the expert council of the Russian Gas Association.
Britain imposed sanctions on 22 ships, including four liquefied natural gas tankers, “for having ties with Russia,” as well as the Rosgazdubisha company. There are now 43 ships on London’s blacklist.
The Financial Times reported that Russia has increased its fleet of oil tankers by approximately 70%. Marine exports increased from 2.4 million barrels per day in June 2023 to 4.1 million in June 2024.
These are all ships not registered in the G7.
The newspaper pointed out that Russian companies and their intermediaries buy used tankers, and their Western owners take advantage of the rare opportunity to dispose of them at high prices.
Experts emphasized that the measures taken against ships transporting oil and liquefied natural gas from Russia are completely useless. The fuel will simply sail to Asia, not Europe.
Leonid Khazanov added: “Accordingly, Russian oil refining operations will increase in India and China to convert it into gasoline and diesel fuel, for later export, including to the European Union.” This means that European consumers will have to pay more for these products. LNG will remain in India and China, while the European Union will buy it at exorbitant prices from Qatar, Nigeria and others.”
Pavel Mareshev said: “Shadow Fleet is a novel written by two parties, the exporter and the importer. Consumers, especially Europeans, are no less interested in the sustainability of LNG supplies than Russian exporters. Therefore, additional sanctions will only increase the final cost.”
Western analysts admitted that the situation had become difficult to control, but for the global energy market this seemed to be the “new norm.”
Source: “Novosti”
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