EU closed ports for Russian LNG transshipment

The prohibition on transshipment of Russian liquefied natural gas (LNG) through EU ports, issued in June 2024, with a deferral granted until March 26 this year, has finally entered into force. Now, the bloc's countries cannot provide technical support, brokerage services and financing of transshipment operations to Russian tankers, OilPrice.com reports.

According to Laura Page, an expert at Kpler, the inability to export LNG through EU terminals may push Russia to send its tankers on longer journeys, making it more challenging to load gas from Yamal.

Nevertheless, there are currently talks about a possible return of more Russian gas flows to European markets. For instance, the Financial Times announced that the former head of Nord Stream 2's parent company intends to relaunch Nord Stream 2 with US businesses buying the pipeline. However, such a plan requires approvals from multiple jurisdictions and may not guarantee sufficient reliability and supply security, OilPrice.com notes.