Overview
- India, which conveyed the stance during Deputy Energy Minister Pavel Sorokin’s April 30 visit to New Delhi, declined LNG tied to U.S.-sanctioned Russian projects with further talks reported for June.
- The LNG tanker Kunpeng carrying a Portovaya cargo had signalled India’s Dahej terminal in mid-April but now sails near Singapore without a stated destination after Indian buyers and terminals declined it.
- Importers judged sanctioned LNG too risky because cargoes are easy to trace through satellite and port data, and India says it could still buy Russian LNG that is lawful though most such volumes are locked in by European contracts.
- India continues to import discounted Russian crude, helped by U.S. Treasury 30-day waivers issued in March for stranded oil cargoes during a period of market stress.
- Russia publicly assured continued energy supplies on Wednesday through Sergey Lavrov in an RT India interview which comes as China keeps buying both sanctioned and non-sanctioned Russian LNG.