A sanctioned Russian LNG cargo stranded off the coast of Spain highlights the challenges Europe faces in securing alternative gas supplies amidst US sanctions on Russia.
A cargo of Russia n liquefied natural gas has been caught up in the latest U.S. sanction package targeting Russia n energy and, according to Bloomberg, is set to provide a litmus test for how much energy buyers are willing to risk for Russia n hydrocarbons. The cargo left the Portovaya LNG export terminal in December, the publication related, and is now idling off the coast of the Iberian Peninsula. The Portovaya terminal is run by Gazprom .
On the other hand, EU officials have been trying to stop local energy buyers from paying for Russian LNG and the latest U.S. sanctions package could help them get what they want, even though last year saw record Russian LNG imports into the bloc. European natural gas prices have risen substantially over the past month, from some 39 euros per megawatt-hour in mid-December to 45.44 euros per MWh today.
LNG Sanctions Europe Energy Security Natural Gas Prices Gazprom Storage Ukraine
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ukraine Receives First US LNG Cargo Amidst Russia Gas TensionsUkraine strengthens its energy security by taking delivery of its first US LNG cargo, aiming to reduce dependence on Russian gas. The arrival comes as negotiations for a new Russian gas transit deal through Ukraine are nearing expiration.
Read more »
India's Latest LNG Terminal Receives First CargoHPCL's new LNG import terminal in Gujarat receives its first cargo, marking a significant step in India's effort to ramp up natural gas consumption. As India's economy and population grow, the demand for natural gas is expected to surge, driving a tripling of consumption by 2050.
Read more »
Turn Any Bike into a Cargo Bike with the Updated Argo Cargo Kit 2.0Denver, Colorado's Argo Bikes released the innovative Cargo Kit 2.0, a kit that can transform any bike into a capable, front-load, cargo bike.
Read more »
Russian Cargo Ship Sinks in MediterraneanA Russian cargo ship sank in international waters between Spain and Algeria after an explosion in its engine room. Two crew members remain missing.
Read more »
Sanctioned Russian Cargo Ship Sinks in MediterraneanThe Russian cargo ship Ursa Major, sanctioned by the US for transporting military equipment, has sunk in the Mediterranean Sea after an explosion in its engine room. Fourteen crew members were rescued and taken to Spain, while others are missing. The ship was one of five Russian vessels that recently entered the Mediterranean, raising speculation about potential troop and equipment evacuations from Syria. However, the ship's owner, Oboronlogistika, claims it was transporting port cranes and ice-breaker parts to Vladivostok.
Read more »
EU imports record quantities of Russian LNG in 2024Bloc received 16.5mn tonnes of liquefied natural gas by mid-December despite efforts to reduce supplies from Russia
Read more »