LNG

The Russian government said the Asia-Pacific region would likely largely replace Europe as a recipient of natural gas and petroleum in the wake of Western sanctions over Ukraine while European spot natural gas prices failed to move significantly higher in the wake of expected events.

Dynagas LNG Partners, the owner of six LNG carriers and mostly involved in Russian cargo liftings, has confirmed in its latest earnings report that three of its carrier charters are now controlled by the German government because they were under contract to Russian natural gas company Gazprom.