Overview
- Monday's Urgewald analysis of Kpler data found 136 of 140 Yamal LNG cargoes went to European Union ports in H1 2026, totaling about 9.97 million tonnes and roughly €5.96 billion in estimated payments.
- France, Belgium and Spain were the largest buyers, importing about 3.7 million, 2.7 million and 2.5 million tonnes respectively, while China received only four cargoes and about 282,000 tonnes.
- Yamal's exports depend on a small fleet of specialized Arc7 ice‑class tankers and rapid turnarounds at European terminals, and many cargoes have been carried on non‑Russian vessels such as Seapeak and Dynagas.
- The European Council has approved a full ban on Russian LNG imports and related maritime services to take effect January 1, 2027, a move that analysts say would force much longer voyages for Arc7 tankers and likely cut Yamal output.
- Yamal LNG supplies more than 60% of Russia's LNG exports, so continued EU purchases this year have boosted Moscow's export revenue and kept Arctic shipments running until the ban is enforced.