Experts from the International Gas Union (IGU) warn that the world risks facing an LNG shortage due to sanctions imposed on Russia. In this respect says in the organization’s June report.
US restrictions on the Russian Arctic LNG 2 gas project have led to a shareholder exodus, and a ban on the transit of LNG from Russia through European ports has led to global supply disruptions. Analysts stated that the freeze on the issuance of LNG export licenses to American companies put additional pressure on the sector.
This week the European Council approved 14th package of anti-Russian sanctions. The new measures also include restrictions on the use of EU infrastructure for the re-export of Russian LNG.
Before that, Igor Ananskikh, first deputy chairman of the State Duma Energy Committee commented EU’s new sanctions. In his opinion, the United States is trying to “destroy” the European economy “as much as it can”, forcing them to tighten restrictions to their detriment.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.