Spain imports LNG from Russia

Spain has imported its first cargo of LNG (liquefied natural gas) from Gazprom’s Portovaya LNG plant on the Baltic Sea reports Reuters.

The LNG was transported on the Cool Rover ship and offloaded at the Enagas LNG terminal in the Spanish port of Huelva.

LNG is not subject to Western sanctions, unlike crude oil.

Gazprom, which is a Russia state controlled company, has mostly lost the European pipeline gas export market, once the main source of foreign currency revenues for Moscow.

The Portovaya LNG plant was launched in September 2022 and has a capacity of 1.5 million metric tons per year.

It is close to the Russia-Finland border and was originally expected to come on stream in 2019, but was delayed for three years over safety concerns.

Most LNG from the plant goes to Turkey, Greece and China.

Reuters used data from LSEG to compile the story.