By Irina Mironova for Cedigaz
In Part 1, we outlined the methodology used to identify vessels engaged in Russian LNG transportation and reviewed the structural characteristics of the fleet. In this second part, we turn to ownership structures and sanctions exposure.
By Irina Mironova for Cedigaz
Recent months have seen extensive reporting on Russia’s oil “shadow fleet.” This prompted a parallel review of the LNG shipping segment: does a comparable structure exist in LNG, and what does the actual fleet engaged in transporting Russian LNG look like?
The result is a dedicated database compiled for Cedigaz subscribers, covering vessels directly or indirectly involved in transporting LNG from Yamal LNG, Sakhalin LNG and Arctic LNG-2, as well as vessels participating in transshipment operations.
Irina Mironova for CEDIGAZ
While 2025 has already seen a record-breaking 60+ Mtpa of U.S. LNG export capacity sanctioned through final investment decisions (FIDs), recent execution delays and contract disputes are revealing cracks in the U.S. LNG export model.
A series of major projects have advanced to FID in recent months (see Table). Yet, not all signals are bullish. Notably, Energy Transfer postponed its long-anticipated FID on Lake Charles LNG to Q1 2026, citing construction cost inflation and slower finalization of sales and purchase agreements (SPAs).