Russian LNG Tanker Appears To Load Cargo From US-Sanctioned Arctic LNG 2 Project

A liquefied natural gas tanker that recently switched to a Russian flag appears to be loading cargo linked to a US-sanctioned energy project.

According to ship-tracking data compiled by Kpler and reported by Bloomberg, the LNG tanker Merkuriy docked alongside the Saam floating storage unit near Murmansk in western Russia.

The storage unit is used to hold LNG produced by the sanctioned Arctic LNG 2 project.

Russia is trying to maintain and increase LNG exports despite heavy restrictions imposed by the United States and Europe on its energy sector.

Sanctions are restrictions imposed by countries or governments to pressure another nation, company, or organisation by limiting trade, financial transactions, shipping activities, or access to international markets.

Western sanctions have significantly affected production and export activity at Arctic LNG 2, one of Russia’s newest LNG developments.

Shipping data showed that the Merkuriy recently switched to a Russian flag and changed ownership to Celtic Maritime & Trading SA, a company with little visibility within the global shipping industry.

The vessel had previously been managed by Oman Ship Management Co.

Industry tracking data indicated that the tanker displays several characteristics commonly associated with so-called dark fleet or shadow fleet operations.

The vessel is older than most LNG carriers currently operating in mainstream global trades and was transferred through opaque ownership arrangements before arriving near the Arctic export facilities.

Three additional former Omani LNG tankers that also switched to Russian flags are either heading towards the Arctic region or have already arrived there, according to ship-tracking data.

The vessels could potentially be used to transport LNG linked to sanctioned Russian projects.

Russia is trying to increase the number of vessels moving sanctioned LNG cargoes at a time when global gas supplies are tight and prices are rising.

The closure of the Strait of Hormuz has disrupted roughly one-fifth of global gas supplies, increasing pressure on energy markets and forcing Asian buyers to seek alternative cargoes.

Bloomberg previously reported that Russia has been offering LNG cargoes linked to sanctioned projects at heavy discounts compared with prevailing spot market prices in an effort to attract buyers in Asia.

The recent movements of these tankers indicate that Russia is attempting to create a dedicated LNG shadow fleet to bypass shipping restrictions and continue exports to eastern markets despite Western sanctions.

The appearance of multiple reflagged LNG carriers near Arctic export facilities also points to the rapid development of an alternative shipping network for sanctioned cargoes is growing quickly.

Arctic LNG 2 Project

Arctic LNG 2 is a large liquefied natural gas export project located in Russia’s Arctic region.

The project was developed to increase Russia’s LNG production and supply cargoes to international markets, especially Asia.

It has been heavily targeted by US and European sanctions aimed at restricting Russia’s energy revenues, affecting production, exports, financing, and access to specialised LNG carriers needed to transport cargo from the Arctic.

The Saam floating storage unit near Murmansk is used to temporarily store LNG cargoes from the project before onward shipment.

LNG shadow fleet operations often involve older vessels, frequent flag changes, ownership transfers through lesser-known companies, and complex management structures that make cargo tracking and sanctions enforcement more difficult.

The Strait of Hormuz remains one of the world’s most important maritime energy routes, handling a significant share of global oil and gas shipments.

Disruptions in the region can rapidly affect LNG prices and vessel demand across Asian energy markets.

References: Bloomberg