India Rejects Russian LNG Under Sanctions
India Rejects Russian LNG Under Sanctions Major institutions, including Goldman Sachs… Alex Kimani is a veteran finance writer, investor, engineer and researcher for Safehaven.com.
India has officially declined Russia's offer to sell liquefied natural gas (LNG) from projects currently under U.S.
sanctions, following April reports of an LPG-laden tanker en route to western India, according to Indian media reports on Monday.
Last month,Reuters reportedthat the 138,200-cubic-metre tankerKunpengwas heading from Russia's Baltic Portovaya plant to the Dahej LNG terminal in western India.
This shipment involved U.S.-sanctioned Russian LNG, signaling a potential first such delivery to India, with Energy Intelligencereportingthat the cargo may have been accompanied by documentation attempting to label it as non-Russian in a bid to bypass restrictions.
However, LSEG data indicates that the vessel is currently sailing near Singaporean waters without a confirmed destination.
Indian buyers and terminal operators have reportedly refused to accept it to avoid violating U.S.
sanctions following discussions with Russia.
India's reluctance to buy sanctioned LNG from Russia has left a large LNG cargo from Russia's Portovaya plant in the Baltic Sea unable to discharge.
The cargo consists of approximately 60,000 tons of heavily discounted LNG.
Last month, the Indian Ministry of External Affairs (MEA)dismissed reportssuggesting that India requested a U.S.
sanctions waiver to resume Russian LNG imports similar to previous oil arrangements, labeling such reports as speculative.
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