Gazprom sends first LNG cargo via the Northern Sea Route
- August 23, 2023
- Posted by: Quatro Strategies
- Categories: Europe, Oil & Gas, Sanctions & Regulation
Russian gas giant Gazprom has sent its first cargo of liquefied natural gas (LNG) from its Portovaya LNG plant on the Baltic Sea via the Northern Sea Route, according to ship tracking data. The Velikiy Novgorod tanker was loaded with LNG from the plant on August 14 and is currently moving in the Barents Sea in the Arctic. The final destination for the cargo has not been disclosed.
The Northern Sea Route is seen as an alternative to the Suez Canal for Russia, offering the potential to cut sea transport times between Europe and Asia. Russia has been exploring the use of this route to diversify its trade options, particularly as trade with Western countries has decreased due to geopolitical tensions.
The Portovaya LNG plant, with an annual output capacity of 1.5 million tons, began production in September of the previous year. It had previously shipped LNG cargoes only to a couple of countries.
The move to send LNG via the Northern Sea Route marks a significant development in Russia’s efforts to expand its energy exports and strengthen its presence in the global LNG market.
Interested in learning more?
Sign up for Top Insights Today
Top Insights Today delivers the latest insights straight to your inbox.
You will get daily industry insights on
Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.
Read more insights
Sweden set to lift ban on uranium mining
Sweden’s Climate Minister, Romina Pourmokhtari, has announced plans to lift the country’s ban on uranium mining and expand nuclear energy capacity. The Swedish Parliament has shown majority support for lifting the ban, paving the way for increased nuclear power generation.
Chinese entities explore participation in $1.4 billion copper smelting project in Chile
Chinese entities are actively exploring the possibility of participating in a major copper smelting project in Chile, signaling a strategic move to secure supplies of copper, a crucial metal in the global transition towards clean energy and electric vehicles. The project in question involves a…
Ofgem greenlights major subsea cable to boost UK’s clean power goals by 2030
British energy regulator Ofgem has approved a £2 billion ($2.5 billion) funding package for the Eastern Green Link 1 (EGL1) project, a 196-kilometer (124-mile) subsea and underground cable system that will connect Scotland to northeast England. The initiative is designed to bolster the UK’s renewable energy infrastructure…
