LNG

The European Union and Japan said after meetings in Brussels that they were committed to work closely to address the current challenges in energy markets worldwide, including LNG and pipeline natural gas supplies.

Oct 22 (LNGJ) - Teekay LNG, the fleet owner and operator of several Ice-class carriers serving the Yamal plant in Russia, has seen the vessels unblocked and is no longer caught up in a controversy over US sanctions imposed against units of Chinese shipping line COSCO for allegedly shipping Iranian oil.

   Under the US sanctions on Iran over its nuclear policies, the US Department of the Treasury’s Office of Foreign Assets Control included COSCO Shipping into the Iran-related Specially Designated Nationals (SDN) list, as well as Teekay LNG Partners. Teekay LNG, through its affiliates and joint ventures, owns four Arc7 LNG tankers conducting shipping services for the Yamal export plant.

   Russian natural gas company Novatek, operator of the Yamal plant, issued a statement saying Yamal LNG had received notification from TC LNG Shipping, the joint venture owning the Arc7 ice-class tankers, that the venture was no longer considered “blocked” under the US sanctions rules.

Novatek, the Russian operator of the Yamal liquefied natural gas plant at Sabetta in northern Siberia, said it was in talks to trans-ship its cargoes from Norway or the Russian port of Murmansk because it is unsure of the impact of US sanctions on the Chinese COSCO tankers it uses or US-listed shipping line Teekay LNG.

Teekay LNG, the fleet owner and operator of Ice-class carriers serving the Yamal plant in Russia, has found itself as a related and “blocked” entity under US sanctions imposed against units of Chinese shipping line COSCO for allegedly shipping Iranian oil.

The International Maritime Organization (IMO) meeting at its headquarters in London has condemned six attacks on ships in the Strait of Hormuz and the Sea of Oman, two main transit routes for LNG carriers and oil tankers, with IMO Secretary-General Kitack Lim calling the threats to shipping “intolerable”.

The statement came at the end of an IMO Council meeting from July 15-19 at which the Arab Gulf incidents were debated.

After debate, the IMO Council decided to condemn the attacks and expressed its concern over the grave danger to life and the serious risks to navigational safety.

“Threats to ships and their crews, peaceably going about their business in any part of the world, are intolerable,” said the Secretary-General.

US sanctions on Iran because of its nuclear policies have raised tensions in the region and around the narrow Strait of Hormuz, through which LNG exports from Qatar and the UAE must pass.

The IMO Council emphasised the need for flag States and shipowners and operators to review the maritime security plans for their ships and implement necessary measures to address the heighted security risks.

“I strongly urge all Member States to redouble their efforts and to work together to find a long lasting solution to ensure the safety and security of international shipping around the globe and the protection of the marine environment,” said Lim.

“We owe it to our industry, which is indispensable to the world, and to our seafarers,” he added.

The attacks include one of 12 May 2019 on the Saudi Arabian-flagged vessels “Amjad” and “Al Marzoqah” and the Norwegian-flagged vessel “Andrea Victory”.

The UAE-flagged vessel “A. Michel” was then attacked off the coast near the UAE port of Fujairah and suffered sabotage damage and on 13 June, the Marshall Islands-flag “Front Altair” and Panama-flag “Kokuka Courageous” were attacked, suffering hull damage and fire, while located in the Sea of Oman near the Strait of Hormuz.

The Council is the executive body of the IMO, a United Nations agency, and consists of 40 member states elected by the IMO Assembly.