In the months that followed its invasion of Ukraine and punitive Western restrictions imposed in response, Russia amassed a shadow fleet to ferry its oil around the world. Now there is growing evidence Moscow has begun to do the same for liquefied natural gas.
Gas is key to the Kremlin’s plans to boost exports, replenish government coffers and fund its war machine — but that requires a larger share of the global LNG market, now that the once-lucrative European pipeline trade has been almost cut off. To date, expansion plans have been hampered by US sanctions that have kept foreign companies away and stopped delivery of the specialized, ice-ready carriers that are vital to reach Arctic facilities.
New European curbs coming in next year, limiting port access, will hinder the current supply