Gazprom sends first LNG cargo via the Northern Sea Route

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.

Elevate your business with QU4TRO PRO!

Gain access to comprehensive analysis, in-depth reports and market trends.

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.

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

Oilfield services giant SLB expands operations with ChampionX acquisition

SLB, the leading US oilfield services company, announced on Tuesday its acquisition of smaller rival ChampionX in an all-stock deal valued at $7.75 billion, reflecting the trend of consolidation in the North American energy sector. Oilfield service providers, facing operational and pricing challenges…

Middle East conflict could push Germany towards Africa for energy supplies

German Chancellor Olaf Scholz is embarking on his third visit to sub-Saharan Africa in two years, signaling the growing importance of the region for Germany. This time, he will visit energy-rich Nigeria and Ghana, with a focus on energy security and migration flows. This shift in…

Rising interest rates drive outflows from renewable energy funds

The iShares Global Clean Energy ETF (ICLN), the largest U.S. exchange-traded fund (ETF) focused on clean energy, is witnessing record annual outflows, exceeding $1 billion in 2023. This marks a stark contrast to its popularity in 2020 and 2021 when the ETF experienced net inflows…

Stay informed

error: Content is protected !!