GLNG: Proposed EU sanctions on Russian LNG unlikely to affect Asian buyers

Europe’s proposed new sanctions package aimed at combatting transshipments of Russian LNG is not expected to impact Asian purchasers, European Commissioner for Energy Kadri Simson told reporters in Tokyo June 3.

According to Reuters, the EU is planning to prohibit at EU ports reloading services for transshipment on to third-party countries, although this ban does not apply to imports into the bloc.

The 14^th sanctions package against Russia following its invasion of Ukraine is expected to be approved later this month and will also include an embargo against new investments in Russian LNG projects under construction such as Murmansk LNG and Arctic LNG. Technology sales and provision of services to the two projects will also be banned.