Monday, September 30, 2024

Putin's Arctic Project Suffers Blow from Top Trade Ally

India has refused to buy liquefied natural gas (LNG) from Vladimir Putin's flagship Arctic energy project delivering a "major blow" to Moscow's fuel exports, an energy analyst has told Newsweek.

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"Putin had high hopes for the seaborne resource after losing the lucrative European market for pipeline gas due to sanctions and the president's move to weaponize the fuel, which only spurred countries to find other suppliers.

Following huge losses, Gazprom cut its fuel production while a proposed Power of Siberia 2 pipeline to transport increasingly stranded Russian gas resources to China remains delayed amid haggling over price.

However, attempts by state firm Novatek to get Russia's gas to market through the Arctic LNG 2 project have so far failed after Jain said last Friday,

"We are not buying any sanctioned commodity."

.

With friends like Pooty's, who needs enemas?

It's OK, he'll always have EffetePooter.

#1 | Posted by Corky at 2024-09-30 05:40 PM

Related?

Sanctioned Russian LNG Ship Nears Asia After Arctic Trip
www.bnnbloomberg.ca

... A Russian liquefied natural gas carrier sanctioned by the US is currently heading to potential buyers in North Asia after sailing thousands of miles through the Arctic Ocean.

Asya Energy passed the southern tip of the Kamchatka Peninsula in Russia's Far East, carrying a shipment from the Arctic LNG 2 plant. It will be closely watched to see if it will continue sailing to an import terminal in the region, or try to cloak its identity in a bid to protect end-users from US retaliatory measures.

Washington put restrictions on the ship and facility as part of efforts to stem Russia's plans to expand natural gas exports and tap funds for its war in Ukraine. While Arctic LNG 2 started shipments in August via vessels with opaque ownership that were hiding their location, characteristics of a shadow fleet that are used to circumvent western restrictions, none have yet docked at another country's port.

Executives from Novatek PJSC, the majority owner of Arctic LNG 2, have been traveling around the world to find buyers for the sanctioned LNG, and have pursued multiple deals in China and with other Asian buyers, Bloomberg reported earlier this month. The company's Chinese unit was sanctioned by the US in August for marketing gas from the project.

Novatek has denied that the company is involved in creating or managing the shadow fleet, describing such suggestions as "untrue" in a Sept. 10 press release.

The Asya Energy passed the Koryak floating storage unit in Russia on Sunday, the ship data show, which means the LNG shipment likely won't be offloaded at the facility. Three of Arctic LNG 2's six cargoes so far have been delivered to Russian storage units, while the others remain on the water.

Meanwhile, the tanker Pioneer -- believed to have loaded Arctic LNG 2's first cargo in early August, and also sanctioned by the US -- has traversed the Red Sea, ship-tracking data compiled by Bloomberg show.

It's the first observed LNG tanker since January to travel the length of the waterway amid Houthi attacks on Western and Israeli vessels. Ships have instead taken longer journeys around Africa.

The manually listed destination for Pioneer has recently showed "Not Support Israel," ship-tracking data show. It hasn't discharged elsewhere and is now closer to potential buyers in Asia. ...



#2 | Posted by LampLighter at 2024-09-30 08:18 PM

I am glad that sanctions are a much more effective way to deal with our enemies than many thought a decade ago. We all know the military power of the U.S.. is the greatest in the world but using it is not always helpful in situations involving other nuclear armed nations, . WAmericane need to use American economic power which is also the largest in the world to aid allies and punish aggressor nations who ignore International Law, as Putin has done by invading Ukraine. Russia still fights on in Putin's dream of resurrecting the Soviet Union but Russians must be feeling the costs of this war to satisfy one single man's goal. I don't know how this will all turn out but we do have recent history as a hint; the USSR collapsed from economic forces and the population demanding a new direction; I think the same thing is going to happen to Putin and hsolationists will join the isolationists of the past who made themselves anacronistic and irrelevant to the modern world. Hell, MAGA itself is the most backward looking poitical slogan in history.He'll be lucky if he doesn't hang but Russia, as we know it, is doomed. Ukraine demonstrated this year that they are capable of invading Russia; that spells defeat for Putin. Putin can no longer say he can protect Russia from ivasion.Russians will be ridding themselves of this tyrant sooner tha anyone expects.
In WWII if Germany or Japan had successfully invaded any part of America we would not have won that war. Great Britain fended off Germany when France could not. When a governmet can't defend a nation from invasion then that government becomes irrelevant. Putin is losing power and he will be ridiculed as weak; then he will die, one way or another. Ukraine will celebrate and become a powerful addition to NATO and ally of the United States United, like Great Britainfor may decades and the Republican isolationists will joim the irrelevant isolayionists of the past and Trump? If Puti falls Trump will be just a lonely, senile old man watching his world implode. And it cou;dn't happen to a nicer hater, racist, homophobic wannabe dictator!

#3 | Posted by danni at 2024-10-01 07:47 AM

Interesting... Trumpanzee's tariffs did the same for US soybean farmers... China says erm noooooo we'll shop elsewhere... Brazille levels rain forest to accommodate...

Just so's ya know... we can be sanctioned against too... yay capitalism.

#4 | Posted by RightisTrite at 2024-10-01 10:05 AM

#2 | Posted by LampLighter

North Asia in this case seems to indicate China or NK....

#5 | Posted by GalaxiePete at 2024-10-01 11:55 AM

This may actually be a sign of some of the tide turning on Russia. If India is no longer willing to by fossil fuels from Russia... I mean they were slurping up a LOT of the oil.

#6 | Posted by GalaxiePete at 2024-10-01 11:56 AM

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