Russian Arctic LNG May Ship to Europe

The partners in Russia 's Yamal LNG project are in talks to ship cargoes to Britain & northwest Europe in winter, when heavy sea ice clogs routes to Asia.

Under the plan, a fleet of around 14 LNG ice-breaking vessels will deliver Arctic gas from the project offshore northwest Siberia to northwest European terminals, either for eventual onward transport to Asia or for local consumption, reports Reuters.

Existing Russian pipelines supply around a quarter of Europe's gas needs, but the planned Yamal LNG export plant was intended to supply Asian markets, which offer higher prices and have so far received relatively small amounts of Russian gas.

For Britain, Russian LNG shipments could help prevent a recurrence of a recent bout of near-record prices caused partly by inadequate deliveries of pipeline gas and of LNG cargoes from Qatar,

Source: Reuters