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EU grants 12-month LNG shipping exemption for Dynagas after Greek push
The exemption allows Dynagas to ship Russian liquefied gas to third parties for 12 months after the sanctions take effect, subject to a volume cap tied to 2025 levels.
The European Union will exempt Greek LNG shipper Dynagas from parts of the latest Russia sanctions after pressure from Greece, according to OilPrice citing the Financial Times.
The broader sanctions package includes a ban on LNG shipments to third countries and a total ban on LNG purchases by EU entities, with a vote expected today amid complaints from several member states about economic fallout.
For Greece’s case, the agreement is designed to protect Dynagas, allowing it to continue shipping Russian liquefied gas to third parties for a 12-month period once the sanctions take effect, with the exemption renewable. The allowed volumes are capped at the amounts Dynagas transported in 2025.
Dynagas operates 27 gas carriers, including a third of the Arc7 tankers servicing the Yamal LNG plant. OilPrice also notes that EU purchases of Yamal LNG rose 16% year over year in the first half of the year to an all-time high of 9.97 million tons, representing as much as 97% of output for the period.