Russia and China seem unfazed by the U.S. and European sanctions on Russia’s Arctic LNG 2 project as deliveries continue into the new year.
The Chinese Beihai LNG terminal has welcomed the first cargo of 2026 from the Russian project, Reuters reported on Monday, citing data from LSEG.
The Buran LNG carrier loaded LNG from a floating storage unit near Murmansk on December 25 and has traveled via the Suez Canal route to China, according to the LSEG data.
The Arctic LNG 2 operator, Russia’s Novatek, has started using the Suez Canal route as severe winter conditions have limited access to the Northern Sea Route from Russia’s Arctic to China.
The Arctic LNG 2 project is under sanctions by the United States, the United Kingdom, and the EU.
This has not deterred Russia and China from proceeding with the trade since the first cargo from Russia arrived at the Beihai terminal in August last year.
Russia is also keeping its sanctioned LNG trade with China alive during the winter thanks to an ice-class vessel capable of ploughing through the thick Arctic ice.
The sanctioned Christophe De Margerie ice-class LNG tanker is set to export its third cargo since December 20 from the Arctic LNG 2 project, vessel-tracking data compiled by Bloomberg showed early this month.
With only one ice-class tanker capable of traveling through the Arctic ice all year round, Russia has boosted shipments from the Portovaya LNG on the Baltic Sea, which is also sanctioned by the United States.
Supply from Portovaya LNG and continued shipments from the Arctic LNG 2 project could be one of the reasons why China reported record volumes of LNG imports from Russia in December, up from the previous record set the month prior, and more than double the estimates from various ship-tracking services.
By Tsvetana Paraskova for Oilprice.com
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