LNG

The European Union adopted a measure last week to phase out imports of Russian LNG: short‑term contracts within six months and long‑term contracts by 1 January 2027. Our cargo-level data shows Russian exporters have already begun rerouting volumes eastward, with European receipts falling more than half whilst Asian shipments reach record levels. However, the seasonal closure of the Northern Sea Route in winter 2026/2027 – just when the ban takes full effect – threatens to strand significant Russian volumes as economically viable export routes to Asia become scarce.

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