Russian President Vladimir Putin observes Novatek’s LNG equipment manufacturing facility in Murmansk
Moving Russian LNG into the shadows
Russia may be looking to create a dark fleet of LNG carriers to get around sanctions on Arctic LNG 2, but it will be hard to replicate its success with shadow oil tankers
Russia has defied Western sanctions on its oil exports in no small part thanks to the amassing of a large so-called ‘dark’ fleet of crude tankers. These vessels have opaque ownership, frequently switch from flag to flag of convenience and change their names, while hiding their movements and making ship-to-ship transfers on the open sea. These deceptive practices help mask the true origin of the oil and petroleum products, their destination and how they are transported, in order to circumvent sanctions. And this has largely been a success. Russia continues to sell its oil and petroleum products above price caps set by the EU and the US, and these exports are still sometimes finding their way,
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
