• Latest
  • Trending
  • All
  • Market Updates
  • Cryptocurrency
  • Blockchain
  • Investing
  • Commodities
  • Personal Finance
  • Technology
  • Business
  • Real Estate
  • Finance
German demand soars for Russian LNG via European ports

German demand soars for Russian LNG via European ports

January 28, 2025
Special limited offer for 2 indicators / SULEIMAN LEVELS v 7.7 – Analytics & Forecasts – 4 June 2025

Special limited offer for 2 indicators / SULEIMAN LEVELS v 7.7 – Analytics & Forecasts – 4 June 2025

June 5, 2025
It’s always steel — tariffs provide Trump with a familiar trade weapon

It’s always steel — tariffs provide Trump with a familiar trade weapon

June 4, 2025
Elon Musk sells Twitter to xAI

Musk’s opposition is ‘one disagreement’ in an otherwise harmonious relationship

June 4, 2025
Chime’s IPO may struggle to strike a chord with investors

Chime’s IPO may struggle to strike a chord with investors

June 4, 2025
RBC says the USD ‘remains extremely overvalued’, ‘much more weakness still lies ahead’

RBC says the USD ‘remains extremely overvalued’, ‘much more weakness still lies ahead’

June 4, 2025
Bitcoin Price Crash Below $100,000 Still Possible: Analysts Issue Downtrend Warnings

Bitcoin Price Crash Below $100,000 Still Possible: Analysts Issue Downtrend Warnings

June 4, 2025
How To Get Your Life Together: 10 Step Checklist

How To Get Your Life Together: 10 Step Checklist

June 4, 2025
How Hard It Is to Make Trade Deals

How Hard It Is to Make Trade Deals

June 4, 2025
Trump’s commerce secretary hints at Bitcoin-only strategic reserve

Semler Scientific Buys $20M More Bitcoin

June 4, 2025
ChatGPT can now read your Google Drive and Dropbox

ChatGPT can now read your Google Drive and Dropbox

June 4, 2025
Glencore-backed Cobalt Holdings scraps planned London listing

Glencore-backed Cobalt Holdings scraps planned London listing

June 4, 2025
Apollo targets $100bn in German deals

Apollo targets $100bn in German deals

June 4, 2025
Thursday, June 5, 2025
No Result
View All Result
InvestorNewsToday.com
  • Home
  • Market
  • Business
  • Finance
  • Investing
  • Real Estate
  • Commodities
  • Crypto
  • Blockchain
  • Personal Finance
  • Tech
InvestorNewsToday.com
No Result
View All Result
Home Commodities

German demand soars for Russian LNG via European ports

by Investor News Today
January 28, 2025
in Commodities
0
German demand soars for Russian LNG via European ports
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


Keep knowledgeable with free updates

Merely signal as much as the EU vitality myFT Digest — delivered on to your inbox.

Germany continues to be shopping for vital quantities of Russian liquefied pure gasoline by way of different EU nations regardless of Berlin turning away direct shipments of Russian gasoline, a report has discovered.

German nationwide vitality firm Sefe purchased 58 cargoes of Russian LNG by means of the French port of Dunkirk final yr — greater than six occasions the determine in 2023, in keeping with a report by Belgian, German and Ukrainian NGOs.

The problem of tracing Russian gasoline by means of the EU’s vitality system has turn into a essential difficulty because the bloc tries to wean itself off Russian fossil fuels. Following Moscow’s invasion of Ukraine almost three years in the past, which pushed vitality costs within the EU to document highs, Brussels set a nominal goal of expunging all Russian gasoline from the bloc by 2027.

Imports of seaborne Russian gasoline, which haven’t been banned, hit a document excessive in 2024. Solely round 10 per cent of the EU’s piped gasoline got here from Russia in 2024, in keeping with European Fee figures, whereas Russian coal and nearly all Russian oil had been sanctioned.

Power ministers from Belgium, France and Spain, whose ports obtain shipments from Russian LNG tankers, have insisted that little or no of the gasoline arriving is used domestically and that the majority is piped on to different EU nations. In November, Germany ordered its state-operated import terminals to reject any Russian LNG cargoes.

“Germany has prohibited the import of Russian LNG at its ports. However imports formally sourced from France and Belgium are the truth is partly composed of Russian LNG, successfully whitewashing the gasoline,” mentioned Angelos Koutsis, vitality coverage officer at Belgian think-tank Bond Beter Leefmilieu, which helped produce the report.

“The top result’s that each one nations concerned can declare to not be liable for the nonetheless growing demand for Russian LNG.”

Column chart of EU imports of Russian LNG by destination country (mn tonnes) showing France, Spain and Belgium import the most Russian LNG to the EU

The report, which was additionally compiled by German environmental teams Deutsche Umwelthilfe and Urgewald, and Ukrainian NGO Razom We Stand, suggests the nation continues to be receiving between 3 per cent and 9.2 per cent of its gasoline provide from Russia by way of different EU nations.

An absence of transparency within the EU’s inner gasoline market has led to “finger-pointing amongst member states, which has led to inaction towards Russian LNG as no member state feels totally accountable”, it added.

Really helpful

A LNG-laden carrier ship next to Brunsbüttel jetty in Germany in April 2024

Fuel transported from Belgian ports, for instance, is usually labelled “Belgian gasoline” in official German databases regardless of Belgium having no gasoline manufacturing of its personal.

Sefe, which was owned by Russian state gasoline firm Gazprom till it was nationalised in 2022, mentioned it didn’t disclose gross sales numbers and so may neither verify nor deny the findings of the report. It has a long-term contract with Russia’s Yamal LNG, led by non-public vitality group Novatek, whereas it could have purchased some cargoes from merchants.

“As soon as delivered into the European gasoline community, the molecules can’t be tracked. It’s due to this fact not possible to know the place precisely the gasoline that will get delivered in Dunkirk finally ends up,” Sefe mentioned.

A spokesperson for the German economic system ministry mentioned: “There aren’t any authorized restrictions on deliveries of Russian LNG within the EU. [But] Russian LNG gasoline solely performs a minor position; it may enter the German gasoline community by means of mixing, as European gasoline merchants normally get hold of gasoline from completely different sources.”

Some content material couldn’t load. Test your web connection or browser settings.

France and 9 different EU nations referred to as in October for nations to publish data on suppliers that import LNG from Russia and the volumes coming into EU ports.

Monitoring the supply of gasoline coming into the EU is achievable by means of legally mandated transparency knowledge, mentioned Tom Marzec-Manser, an impartial gasoline analyst.

However “it’s as soon as the gasoline, or regassified LNG, begins to journey throughout the inner market that it turns into particularly troublesome to untangle the place the gasoline has commercially been delivered”, he mentioned.

“This could require every shipper to declare such data for each hour of the day for every community, which might be extremely burdensome,” Marzec-Manser added.



Source link

Tags: demandEuropeanGermanLNGportsRussianSoars
Share196Tweet123
Previous Post

Expensive Markets Are Surging—Here’s Where Investors Can Buy Big

Next Post

Stocks making the biggest moves premarket: NVDA, ORCL, JBLU, GM

Investor News Today

Investor News Today

Next Post
Stocks making the biggest moves premarket: NVDA, ORCL, JBLU, GM

Stocks making the biggest moves premarket: NVDA, ORCL, JBLU, GM

  • Trending
  • Comments
  • Latest
Equinor scales back renewables push 7 years after ditching ‘oil’ from its name

Equinor scales back renewables push 7 years after ditching ‘oil’ from its name

February 5, 2025
Best High-Yield Savings Accounts & Rates for January 2025

Best High-Yield Savings Accounts & Rates for January 2025

January 3, 2025
Suleiman Levels limited V 3.00 Update and Offer – Analytics & Forecasts – 5 January 2025

Suleiman Levels limited V 3.00 Update and Offer – Analytics & Forecasts – 5 January 2025

January 5, 2025
10 Best Ways To Get Free $10 in PayPal Money Instantly

10 Best Ways To Get Free $10 in PayPal Money Instantly

December 8, 2024
Why America’s economy is soaring ahead of its rivals

Why America’s economy is soaring ahead of its rivals

0
Dollar climbs after Donald Trump’s Brics tariff threat and French political woes

Dollar climbs after Donald Trump’s Brics tariff threat and French political woes

0
Nato chief Mark Rutte’s warning to Trump

Nato chief Mark Rutte’s warning to Trump

0
Top Federal Reserve official warns progress on taming US inflation ‘may be stalling’

Top Federal Reserve official warns progress on taming US inflation ‘may be stalling’

0
Special limited offer for 2 indicators / SULEIMAN LEVELS v 7.7 – Analytics & Forecasts – 4 June 2025

Special limited offer for 2 indicators / SULEIMAN LEVELS v 7.7 – Analytics & Forecasts – 4 June 2025

June 5, 2025
It’s always steel — tariffs provide Trump with a familiar trade weapon

It’s always steel — tariffs provide Trump with a familiar trade weapon

June 4, 2025
Elon Musk sells Twitter to xAI

Musk’s opposition is ‘one disagreement’ in an otherwise harmonious relationship

June 4, 2025
Chime’s IPO may struggle to strike a chord with investors

Chime’s IPO may struggle to strike a chord with investors

June 4, 2025

Live Prices

© 2024 Investor News Today

No Result
View All Result
  • Home
  • Market
  • Business
  • Finance
  • Investing
  • Real Estate
  • Commodities
  • Crypto
  • Blockchain
  • Personal Finance
  • Tech

© 2024 Investor News Today