LNG entities under US sanctions to curb Russia's Arctic LNG 2 project
UKRAINE-CRISIS/RUSSIA-LNG (FACTBOX, PIX):FACTBOX-LNG entities under US sanctions to curb Russia's Arctic LNG 2 project
SINGORE, - The United States imposed sanctions on over 400 entities and individuals for supporting Russia's war effort in Ukraine, the State Department said on Friday, including companies supporting the development of Russia's Arctic LNG 2 project and its shipment of liquefied natural gas , as well as other future energy projects. The Arctic LNG 2 project by Russia's Novatek is subject to Western sanctions over Russia's conflict with Ukraine. The project had been due to become Russia's largest LNG plant with eventual output of 19.8 million metric tons per year of LNG from three trains. Novatek may be forced to scale back the project following the sanctions, but a tanker under U.S. sanctions that picked up a cargo from Arctic LNG 2 has been found to be carrying out a ship-to-ship transfer, suggesting Moscow is managing to continue some exports from the project. Below are the companies designated by the U.S. state department, as well as the vessels they own or manage, according to data from Equasis and Kpler: SHIPPING COMPANIES THAT LOADED AND TRANSPORTED LNG FROM ARCTIC LNG 2: Company name Location Fleet info Ocean Speedstar Mumbai, India Ship/commercial manager for: Solutions OPC Private - Pioneer, 9256602 Limited - Asya Energy, 9216298 - Everest Energy, 9243148 Zara Shipholding Co C/O: Ocean Speedstar Registered owner for: Solutions Pvt Ltd - Pioneer, 9256602 Mumbai, India The U.S. state department said the Pioneer and Asya Energy vessels had entered Russian waters in late July, and had shut off and manipulated their automatic identification system to broadcast false locations. While producing a false AIS signature, Pioneer and Asya Energy loaded LNG from the Arctic LNG 2 facility on Aug. 1-3 and 9-11 respectively, said the state department, citing commercial satellite imagery. Ocean Speedstar Solutions and Zara Shipholding did not immediately respond to a request for comment. TARGETING RUSSIA'S PROCUREMENT OF LNG TANKERS: Company name Address Fleet info White Fox Ship Dubai, United Arab Emirates Ship/commercial manager for: Management FZCO - North Way, 9953535 - North Air, 9953509 - North Mountain, 9953511 - North Sky, 9953523 The four vessels have transshipped LNG from Russia's Yamal LNG project despite being originally intended for Arctic LNG 2 use, said the U.S. state department, adding that it is committed to blocking the expansion of Russia's existing LNG fleet. "Further, this transshipment of LNG by vessels with obfuscated ownership could eventually help Russia circumvent EU restrictions prohibiting the transshipment of Russian-origin LNG through European ports," it said. Reuters could not find contact information for White Fox Ship Management. TARGETING ADDITIONAL COMPANIES RELATED TO ARCTIC LNG 2: The state department also targeted Novatek China Holdings Co Ltd, a China-based firm established in August 2023 to market LNG from Arctic LNG 2. It also designated Russian construction firm Limited Liability Company Ekropromstroy used as a special purpose vehicle to sell equity stakes in Arctic LNG 2, and UAE-based Waterfall Engineering that provided parts to Arctic LNG 2 in 2023. TARGETING THE YAKUTIA LNG PROJECT: The U.S. in addition designated several Russian-based companies involved in the development of the future Yakutia LNG project, one of the largest prospective LNG production projects in Russia. They include LLC Power of Yakutia, LLC Yakutstroiproekt and LLC Liquefied Natural Gas Yakutia.
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