Page 11 - EurOil Week 44 2022

EurOil PIPELINES & TRANSPORT EurOil

UK officially bans Russian LNG

UK THE UK will ban imports of LNG from Russia UK imports of oil, gas and petroleum
from January 1, 2023, the government said last products fell to zero in June for the first time
The move follows a week, ramping up its sanctions regime against on record, based on data going back to 1997,
pledge made earlier this Moscow over its invasion of Ukraine. How- according to figures released by the country’s
year. ever, the move is purely symbolic, as the UK has Office for National Statistics. Those imports had
already stopped buying Russian chilled gas. been worth an average of nearly GBP500mn
The move follows a pledge that London ($573mn) per month in the year till February.
made to phase out Russian oil and gas imports Prior to Moscow’s invasion of Ukraine, Rus-
earlier this year. The government said last week sia was the UK’s largest supplier of refined oil,
it would prohibit importing of LNG which is accounting for 24.1% of the total. Russia also
consigned from or originates in Russian, and the supplied 5.9% of the UK’s oil imports and 4.9%
acquisition of LNG, as well as related technical of its gas imports.
assistance, financial services and funds, and bro- The statistics office noted at the time that “as a
kering services, which originates or is located in result of the UK government’s ambition to phase
Russia, with the intention of the LNG entering out imports of Russian oil and gas, there were no
the UK. imports of refined oil, crude oil, gas or coal, coke
As of last year, nearly half of the gas entering and briquettes from Russia by June 2022. This
the UK market came from the country’s North has prompted importers to seek alternatives.
Sea shelf, while the country’s largest outside sup- There have been increases in imports of refined
plier is Norway. Only about 17% of the UK’s gas oil from Saudi Arabia, the Netherlands, Belgium,
is imported in LNG form. Besides Russia, these Kuwait in recent months, partially compensating
supplies come from Qatar, the US and others. for reducing imports from Russia.” ™

Week 44 07•November•2022 www. NEWSBASE .com P11