EU Ports Terminate Transshipment Services for Russian LNG

As of 26 March, EU ports will stop providing transshipment services for Russian liquefied natural gas (LNG), which could continue for some time except for pre-sanctions contracts. This was reported by Interfax-Ukraine, eurointegration.com.ua wrote. EU ports have been banned from providing transshipment services for liquefied natural gas produced or exported from Russia since 26 March. Such restrictions were contemplated by sanctions imposed in June 2024, but the companies were given a reprieve on contracts signed until 25 June 2024, which expired today. The provision of technical support, brokerage services, financing or financial support for LNG transshipment is also prohibited. At the same time, services will be allowed when it comes to transporting gas to an EU member state for its energy needs. As of this time, about 13% of the gas that EU countries buy still comes from Russia, and the European Commission is preparing legislation to encourage member states to opt out. The most famous transshipment contract was between Russia’s Yamal LNG and Belgium’s Fluxys. In particular, the Russian company used it to transship LNG from vessels adapted to polar latitudes to other vessels for further transport to global markets.