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Russia’s largest liquefied pure fuel firm Novatek has approached think-tanks in Brussels in an effort to foyer towards tightening EU sanctions.
The European Coverage Centre, Bruegel and the Centre on Regulation in Europe had been all approached by Novatek this week, requesting a gathering with the corporate’s deputy chair Denis Solovyov. All think-tanks, which affect EU selections with stories and coverage proposals, declined the request.
The aim of the assembly, in line with an electronic mail despatched to EPC and seen by the Monetary Occasions, was “to interact in an open dialog with you concerning vitality safety, the function of LNG, and up to date developments in EU vitality coverage”. The identical electronic mail was despatched to the 2 different think-tanks.
A fourth outfit, which requested to not be named, stated it additionally obtained the request and stated that “for now, the matter is on maintain”.
Solovyov’s deliberate journey to Brussels coincides with heated debates amongst EU governments about whether or not the bloc ought to ban Russian LNG imports, the final fossil gas that has up to now been shielded from restrictions imposed in response to Moscow’s full-scale invasion of Ukraine.
Neither Solovyov nor different Novatek executives, nor the corporate itself, are topic to particular person sanctions within the EU.
The European Fee this week proposed restricted bans on Russian LNG going to EU ports that aren’t linked as much as the bloc’s major fuel grid. The proposal has but to garner assist among the many bloc’s 27 governments and have to be unanimously backed to go.
LNG imports from Russia rose to document ranges final 12 months and account for greater than 20 per cent of the bloc’s total imports of the super-chilled gas. Greater than 90 per cent of the volumes had been sourced from crops majority-owned by Novatek: Yamal LNG and Vysotsk LNG.
Vysotsk was not too long ago added to US sanctions. President Donald Trump has signalled willingness to impose additional restrictions on the Russian financial system if the Kremlin doesn’t finish the battle quickly.
Reuters reported in December that Solovyov was in Washington to work with lobbyists there to method US authorities entities. Excessive North Information first reported that Solovyov would journey to Brussels.
“Mr Solovyov is eager to pay attention, trade concepts, and higher perceive the views shaping Europe’s coverage route,” the e-mail learn. The Novatek govt “can share insights into how vitality suppliers are adapting to Europe’s altering regulatory and geopolitical panorama, offering a real-world business perspective”, it added.
Novatek didn’t instantly reply to a request for remark.
Fabian Zuleeg, chief govt of the European Coverage Centre, stated: “Russian financial actors are attempting covertly to affect policymaking within the west to have limitations on their actions lifted.
“The EU ought to resist the temptation to re-engage economically with Russia, as Moscow will proceed to be greater than prepared to weaponise interdependence in future.”
Simone Tagliapietra, senior fellow at Bruegel, stated Europe was “uncovered to the chance of a divide-and-rule technique by Russia” due to its lack of a unified method to Russian fuel imports “at a time the place many throughout the continent is likely to be tempted to resort to such fuel provides to decrease vitality costs”.
Novatek is likely one of the largest non-public vitality corporations in Russia and has been the main exporter of LNG, an important cog within the Kremlin’s push to promote extra of the seaborne gas overseas.
However that ambition has been curtailed lately, with the US first imposing sanctions on the Novatek-led Arctic LNG 2 challenge, which was imagined to be Russia’s largest LNG plant, and likewise ships carrying the gas.
Arctic LNG 2 has made a number of shipments since August final 12 months, however none have been delivered to any prospects who worry the repercussions of coping with a US-sanctioned challenge.
Novatek stated its hydrocarbon manufacturing final 12 months was 667mn barrels of oil equal, a rise of three.3 per cent in contrast with 2023. Its pure fuel gross sales quantity, together with LNG, was 77.7bn cubic meters, a decline of 1.1 per cent in contrast with 2023.
