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Tanker with Russian gas still set for Boston

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Bloomberg are reporting that the LNG tanker headed to the US with a controversial cargo is due to resume its journey after making a U-turn in the middle of the Atlantic Ocean.

The vessel named Gaselys was set to land at a terminal outside Boston on 20 January and changed its course to delay the date of its arrival, according Engie SA, the French utility that owns the cargo. 

The ship turned east last night and listed its destination as Algeciras near Gibraltar.

The vessel is carrying a cargo from storage tanks at a terminal near London, which earlier received the first fuel from the US$27 billion Yamal LNG plant in Russia’s icy north. It is a closely-watched shipment because some of the gas came from the project that is under financial sanctions imposed by the US in 2014 after President Vladimir Putin invaded Ukraine’s Crimea. 

The shipment was arranged during a polar cold snap that gripped the US northeast earlier this month, sending prices to records. 

Engie’s North American unit bought the spot cargo for delivery to the US from Malaysia’s Petroliam Nasional Bhd. to supplement its contracted volumes from Trinidad and Tobago into its Everett terminal near Boston.

The Yamal LNG project, co-owned by Russia’s Novatek PJSC, Total SA, China Natural Petroleum Corp. and China’s Silk Road Fund, started production in December despite US financial sanctions imposed in 2014 because of Russia’s involvement in the Ukrainian conflict. It plans to deliver 14 spot cargoes by April, when long-term contracts kick in.

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