EU ports to stop providing transshipment services for Russian LNG from March 26

MOSCOW. March 26 (Interfax) - The EU bans its ports from providing services related to the transshipment of liquefied natural gas originating in Russia or exported from Russia on March 26.

The relevant sanctions were imposed in June 2024, but deferred until March 26, 2025 for the execution of contracts concluded before June 25, 2024.

The sanctions also prohibit technical assistance, brokering services, financing or financial assistance related to transshipment.

But member states may allow transshipment services for Russian LNG if it is necessary for transportation to an EU member state and will be used for its energy supply.

The largest known transshipment contract is between Novatek's Yamal LNG and Belgium's Fluxys. The Russian company has said a 180,000 cubic meter tank, built specifically for the needs of Yamal LNG, would enable transshipment of up to 8 million tonnes of Yamal LNG per year. Yamal LNG began using the tank for LNG transshipment at the Belgian Zeebrugge terminal under a 20-year agreement in 2019.

Yamal LNG uses the European terminals to reload LNG from ice-class gas carriers to conventional carriers and supplies to other markets, including Asia.