MOL’s attempts to supply icebreakers for the Arctic LNG 2 project have been thwarted, Mitsui OSK Lines Ltd. reports.
US sanctions are disrupting the supply of specialized vessels to Russia’s new liquefied natural gas plant, Mitsui OSK Lines Ltd. reports, putting exports at risk.
MOL cannot charter icebreakers to transport LNG due to US restrictions. President Takeshi Hashimoto expressed concern about selling them in an interview.
The launch of the Russian plant, which is crucial for Russia, is suffering due to US measures that punish Moscow for its invasion of Ukraine. Novatek’s plans to use vessels to collect fuel face obstacles. “Novatek is postponing the vessel’s first voyage and trying to find buyers.
“Our contract requires us to sell our vessel to Arctic 2 if we are unable to provide services,” Hashimoto says. But “sanctions are preventing us from finalizing this deal with Arctic.”
MOL is working with the US and Japanese governments to find solutions. The construction of the first LNG icebreaker will be completed later this year.
Foreign partners, including Japan’s Mitsui & Co. and France’s TotalEnergies SE, have declared force majeure on their participation in the project. A good example of the consequences of violating sanctions
