LNG

Greece has warned EU sanctions against the transhipment of Russian LNG to third countries could surrender market share to non-European rivals, as EU envoys postponed talks on the bloc’s 21^st sanctions against Russia to July 23.

Spain’s Bilbao port chief has urged the European Union to delay its 2027 ban on Russian LNG, arguing the bloc needs “more resilience” and noting Russian cargoes are often cheaper than U.S. supplies.

Trading and reselling Russian LNG will be forbidden for EU-based companies starting from 2027 – regardless if the Russian LNG is destined for the European Union or not, EU Energy Commissioner Dan Jorgensen specified.

Persistent disruptions to LNG flows through the Strait of Hormuz bolster Russia’s chances of getting the Power of Siberia II pipeline built. A 2032 startup would give Gazprom a new major outlet, as the EU’s 2027 ban on Russian LNG reshapes Moscow’s long-term export strategy.

Arctic LNG 2 is expanding its tanker fleet to re-route exports to Asia ahead of the EU’s planned 2027 ban on Russian LNG imports. The Novatek-led project is estimated to need up to 40 additional LNG carriers to sustain Arctic LNG 2’s targeted export volumes beyond 2026.

The first phase of the EU’s ban on Russian LNG has taken effect this weekend, removing an initial slice of the 20.3 bcm imported in 2025 at a time when European buyers are already competing for replacement cargoes for lost Qatari supply.

Buyers in the EU have been snapping up all LNG from Russia’s Yamal terminal they can secure, just month before a full EU ban on Russian gas exports will take effect at the start of 2027.

EU member states spent more than €7.2 billion ($8.4 billion) on Yamal LNG last year – despite a full ban on LNG imports coming into force on January 1, 2027.  “Russia has no adequate alternative to the EU market,” Urgewalt analysts commented, noting more than three-quarters of all Yamal LNG exports currently go to Europe.

Japan’s new Prime Minister, Sanae Takaichi, has rebuked demands from US President Donald Trump for an outright ban of Russian LNG, saying such a move would be “difficult.” Mitsui and Mitsubishi own stakes in the Sakhalin-2 project and Russian LNG currently cover some 9% of Japan’s total imports.

European Union energy ministers will endorse a full ban on Russian gas imports from January 1, 2028, an EU diplomat indicated. The ban would leave an estimated 15 bcm per year of Russian LNG needing replacement, with cargoes from Qatar, West Africa and especially from the United States poised to cover most of the shortfall.