The Arctic LNG plant under sanctions has earned in two hands: it turned out to be profitable for Europe

The delivery of LNG from Arctic LNG — 2 to a floating storage facility near Murmansk, from where liquefied gas is taken by traditional gas carriers, accelerated after the first Russian tanker entered the line. Supplies from the sanctions project to China are increasing, which plays into the hands of Europe, which in January took all volumes from another Arctic project, Yamal LNG, which is not under restrictions.

The delivery of liquefied natural gas from Arctic LNG — 2 to a floating storage facility near Murmansk was carried out by the first gas carrier built in Russia, Alexey Kosygin. According to AIS of vessels, it comes with the first cargo and approached the Kola Peninsula on February 2.

Following him is "Christophe de Margerie, which had previously been the only ice-class gas carrier operating on the route between the plant and the storage facility.

Arctic LNG—2 is under sanctions and lacks ice-class tankers. And outside the season of navigation along the Northern Sea Route, liquefied gas is delivered to a storage facility near Murmansk, where the sea does not freeze. From there, traditional tankers take the fuel and go to China around Europe.

The launch of the second ice-class gas carrier will accelerate the delivery of gas to the storage facility, from where seven traditional tankers pick up cargo. Such a scheme for the delivery of sanctioned LNG was tested this winter and at least seven shipments have already gone to Asia.

According to the AIS of the vessels, the Zarya tanker was the last to leave the storage. And Arctic Mulan and Iris are already on their way to the Kola Peninsula.

The second Arctic LNG project in Russia imposed sanctions in November 2023 and delivery to end customers began only in the summer of 2025. All sanctioned cargo is transported to the terminal in Beihai. In summer and autumn, cargo was transported along the Northern Sea Route, and in winter and spring an alternative route will operate.

Obviously, the logistics of the sanctioned LNG built through Europe also plays into the hands of the EU countries themselves, in which the demand for gas has increased due to frost and calm, and storage stocks are being emptied at a rapid pace, and the cost of gas has exceeded $ 500 per thousand cubic meters.

Chinese companies accept more sanctioned LNG, which may allow them to resell more Yamal LNG to the EU, which is not under sanctions. So, in January of the country The EU imported all the volumes produced at Yamal LNG — 23 batches. This is a record figure for a project in Europe. The share of the Russian project in imports to the EU in January was approximately 18%.

It is obvious that Yamal LNG will resume delivery to China. The tankers Seapeak Yamal and LNG Phecda approached Murmansk. However, it is not known when this will happen. Vessels can be waiting for loading for three to four weeks.