Ships transporting Russian liquefied natural gas (LNG) to Asia are opting for longer routes around Africa’s Cape of Good Hope instead of the Arctic shore as winter approaches, according to LSEG data. The new Arctic LNG 2 project is facing a shortage of ice-class gas carriers, leading to a shift in navigation routes. For example, the LNG Megrez and Seapeak Yamal tankers loaded at the Yamal LNG plant are both expected to travel past the southern tip of Africa, with arrival dates in November.
The Velikiy Novgorod tanker, loaded at Gazprom’s Portovaya plant on the Baltic Sea, is set to dispatch its cargo on November 21. Russia has imposed traffic restrictions at the port of Sabetta due to ice formation, starting from October 22. Additionally, attacks by Yemen’s Houthi group on commercial ships in the Red Sea have prompted shipping companies to avoid routes through Egypt’s Suez Canal since late last year.
The Metagas Everest, previously known as Everest Energy, is the last vessel to load from Arctic LNG 2, which was sanctioned by the United States over the conflict in Ukraine. It received cargo on October 7 and remains in the Kara Sea in the Arctic. LSEG data does not show new loadings from the project. These developments reflect the changing dynamics in LNG shipping routes and geopolitical considerations affecting the industry.
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