russia Races to Build LNG 'Shadow Fleet' Ahead of EU Ban

russia is rapidly expanding its fleet of LNG carriers ahead of the EU's 2027 ban on Russian gas imports. According to Ukraine's Foreign Intelligence Service (SZRU), Moscow is buying up aging LNG vessels and commissioning new ones, with over 65% of Russia's LNG production coming from Novatek's Yamal LNG and Arctic LNG 2 projects.

The SZRU estimates that these cargoes are being transported by 11 vessels with an average age of around 10 years. However, creating an LNG equivalent of russia's oil 'shadow fleet' is far more difficult due to the specialized cryogenic systems required for natural gas transport.

Moscow is turning to used vessels that the global shipping industry is already retiring, with many ships over 19 years old. Over the past six months, Russia has added at least eight used LNG carriers and two newly built vessels from the Zvezda shipyard in Bolshoy Kamen, Primorsky Krai.

The new 'shadow fleet' will only partially cushion the impact of the EU ban, as russia faces a fundamental shortage of suitable LNG carriers, particularly ice-class vessels capable of operating in the Arctic.