FT reports EU’s resale of Russian gas- Analysis

Belgium, Spain, and France Resell Over 20% of Russian LNG Imports, EU Transshipment Data Reveals

The European Union (EU) is reportedly reselling more than one-fifth of its imports of liquefied natural gas (LNG) from Russia to other parts of the world, according to a report by the Financial Times.

Although the UK and the Netherlands have banned the transshipment of Russian LNG, data shows that significant volumes of Russian gas from the Arctic Yamal LNG plant are routinely transferred between tankers in Belgium, France, and Spain before being exported to other countries.

The report highlights that ports in Belgium and France, particularly Zeebrugge and Montoir-de-Bretagne, have received the largest shipments of Russian LNG among all EU ports this year. The transshipment usually occurs between ice-class tankers that run between the Yamal peninsula and northwestern Europe and regular LNG tankers that continue on to other ports, freeing up the ice-class vessels to return north.

Between January and September, the EU imported 17.8 billion cubic meters of Russian LNG, and approximately 21% of this amount was transferred to tankers heading to China, Japan, Bangladesh, and other countries.

It is worth noting that imports of pipeline gas from Russia have mostly been halted due to restrictions related to the Ukraine conflict. However, EU countries have continued to purchase record volumes of LNG from Russia, despite previous pledges to reduce their reliance on Russian energy.

The report suggests that EU governments are in a difficult position, as they find it challenging to criticize the reselling of Russian LNG when they are also using it themselves. This situation has led to a hesitant approach from member states and is expected to remain a topic of concern during the winter season.

Belgium, Spain, and France are among the countries that have increased their purchases of Russian LNG, even though there have been calls from some EU officials to halt such transactions.

Analysis:

In this article, the Financial Times reports on the transshipment of Russian LNG in Belgium, Spain, and France. The sources cited in the article are the Financial Times itself and the Institute for Energy Economics and Financial Analysis. The Financial Times is a reputable news outlet known for its extensive coverage of global financial and business news. The Institute for Energy Economics and Financial Analysis is an independent research organization focused on energy markets and finance. Both sources are credible and widely recognized in their respective fields.

The article presents the facts regarding the transshipment of Russian LNG in an objective manner. It mentions the specific ports involved, the volumes of LNG being resold, and the countries to which the LNG is being exported. The article also includes quotes from experts to provide analysis and context to the situation. Overall, the information presented in the article appears to be reliable and supported by data.

However, it is important to consider potential biases in the reporting. The article focuses on the EU’s reselling of Russian LNG, which may be seen as a controversial issue given the political tensions between Russia and Western countries. The article does not delve into the reasons behind the EU’s decision to resell Russian LNG, nor does it provide a comprehensive analysis of the geopolitical factors at play. This could potentially lead to a limited or one-sided understanding of the situation.

The impact of this article may be influenced by the current political landscape and the prevalence of fake news. Given the ongoing tensions between Russia and Western countries, the public’s perception of the information presented in this article may vary. Some may view the transshipment of Russian LNG as a strategic move by the EU to reduce its dependence on Russian energy, while others may interpret it as a hypocritical action considering the current geopolitical context. The prevalence of fake news and misinformation adds to the complexity of the issue, making it crucial for readers to critically evaluate the information and seek multiple sources to form a nuanced understanding.

Source: RT news: EU reselling Russian gas – FT