Latest News

UK’s National Grid seeks clarity on LNG’s inclusion in port block of Russian vessels

0

2/2
© Reuters. FILE PHOTO: National Grid’s liquified natural gas (LNG) plant is seen at the Isle of Grain in southern England August 16, 2013. REUTERS/Paul Hackett
2/2

By Susanna Twidale

LONDON (Reuters) -Britain’s National Grid (LON:NG), which operates the Isle of Grain liquefied natural gas (LNG) terminal said it is seeking to understand if a block on Russia-related vessels, announced by the British government on Monday, includes LNG shipments.

Britain on Monday ordered its ports to block any vessels that are Russian-flagged or believed to be registered, owned or controlled by any person connected with Russia as it ratcheted up the pressure on Moscow.

“We are supportive of government action to order UK ports to block all Russian-linked ships, and are seeking to understand if this includes LNG terminals and Russian-linked cargo,” a spokesperson said in an emailed statement.

The spokesperson said the decision as to whether Britain accepts LNG from Russia sits with the government’s Business, Energy and Industrial Strategy (BEIS) department and its customers.

“We have a legal, contractual obligation to receive our customers’ vessels into our terminal, and do not have any control over the origin of the LNG they contain.” the spokesperson said.

The Christophe de Margerie tanker had been scheduled to arrive at the Isle of Grain terminal from Russia on March 4 but Refinitiv Eikon shipping data showed its destination has changed now changed to France.

Russia was Britain’s third-largest supplier of LNG in 2021, BEIS data showed, at around 21.5% behind top supplier Qatar and the United States.

Overall Britain gets less than 5% of its total gas demand from Russia but Russian gas supply to Europe has a big influence over British gas prices.

UK’s National Grid seeks clarity on LNG’s inclusion in port block of Russian vessels

Disclaimer:Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Russia Steps Up Aerial Campaign Against Cities: Ukraine Update

Previous article

AMC Entertainment Reports Earnings Tuesday. Investors Mostly Know What to Expect.

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News