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- The LNG carrier Pioneer, carrying sanctioned Russian LNG, was unable to find a buyer after a four-month global search.
- The ship was forced to return to the Koryak floating storage unit in Kamchatka, where the gas will likely be held until a buyer can be found.
- The incident highlights the increasing challenges faced by Russia in exporting its energy resources due to Western sanctions and compliance concerns.
The shadow fleet of liquefied natural gas carriers transporting blacklisted Russian LNG has encountered a major setback, with at least one ship’s cargo traveling around the world, finding no buyers as the cargo was deemed too risky.
Bloomberg reports that an LNG carrier called “Pioneer,” carrying a sanctioned shipment of Russian LNG, circumnavigated the world for four months, failing to find a buyer willing to breach US restrictions.
“This vessel (called Pioneer) was spotted on satellite images picking up the first shipment from the Arctic LNG 2 facility in early August — despite camouflaging the move with misleading location information — but then spent well over four months hunting for a customer,” Bloomberg’s Stephen Stapczynski wrote on X.
According to ship-tracking data, Pioneer arrived at the Koryak floating storage unit in Kamchatka on Thursday after four months on the seas.
The gas is likely to be held there until a customer can be found,” Bloomberg noted.
Most of Russia’s dark fleet consists of oil tankers. However, the West has increasingly targeted LNG carriers as Washington and Brussels race to sever Russian energy flows to Europe.
Regarding global LNG trading – buyers, sellers, charterers, financing banks, and insurers must be extra vigilant when running compliance checks to ensure their ships do not engage in Western-sanctioned activities, and this is likely why Pioneer could not find a buyer.
By Zerohedge.com
The post Sanctioned Russian LNG Cargo Stranded at Sea appeared first on Energy News Beat.
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