European natural gas futures declined after Russia signaled that it may offer additional volumes soon.

Julian Lee, Bloomberg news

LONDON
EnergiesNet.com 02 25 2022

Shipments of crude from Russia’s Pacific coast terminals to refineries in the the U.S. have risen in February to their highest level since June, despite the tensions that culminated with President Vladimir Putin sending troops into Ukraine.

Four crude cargoes are heading for refineries in Washington state and Hawaii from Russian Pacific terminals, according to ship tracking data monitored by Bloomberg. That’s equivalent to 101,000 barrels a day, the highest daily average in eight months.

While the U.S. and other Western nations are imposing sanctions against Russia following its invasion of Ukraine, the country is a major exporters of energy and raw materials the world needs at a time when shortages are stoking inflation. 

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Three cargoes of Sokol crude were loaded by ship-to-ship transfer off the South Korean port of Yeosu. One is already anchored off Anacortes, Washington, and the other two are headed for Hawaii, where they are due to arrive in the first week of March.

Sokol is pumped from fields off Sakhalin Island by Exxon Neftegas Ltd, which holds a 30% stake in the Sakhalin-1 project alongside partners from Russia, India and Japan. Cargoes are moved from the export terminal at De-Kastri by a fleet of shuttle tankers and it’s not unusual for them to be transferred to other ships at Yeosu for onward delivery. 

One shipment of ESPO crude, piped to the coast from East Siberia, was loaded at Russia’s Kozmino terminal. It’s due to arrive in Anacortes on March 14.

Russian barrels will keep coming to the U.S. aboard almost two dozen vessels for delivery in the next month, according to data from Vortexa. 

bloomberg.com 02 24 2022