Russia transports LNG to Asia via the Cape of Good Hope

Data issued by the London Stock Exchange Group showed that Russia is diverting liquefied natural gas shipments heading to China to a longer route, the Cape of Good Hope route, due to the increasing risk of attacks launched by the Yemeni Houthi group.

According to Reuters, fuel-producing countries, including Russia, were forced to change the route taken by ships to deliver shipments to Asia to circle around Africa in an effort to avoid Houthi attacks in the Red Sea, even though the Suez Canal is the shortest route between Asia and Europe.

The conflict has caused insurance premiums for ships traveling the Red Sea route to increase, increasing costs.

The alternative route to Asia lengthens the journey by about 10 days, which may exacerbate the tanker shortage problem that Moscow already faces due to Western sanctions imposed on it.

According to data from the London Stock Exchange Group, the tanker (LNG Geneva), which was loaded with Russian liquefied natural gas on January 3 near Kildin Island in the Murmansk region, took the Cape of Hope route. Al-Saleh was unloaded on February 16 at Jieyang Port in China.

Another tanker, Clean Vision, was loaded with gas from Yamal LNG on January 17 and headed towards China, where it is expected to be unloaded on February 28.

The data also shows that ships that loaded LNG from Yamal in December and delivered the fuel to China via the Red Sea Route are returning from the Cape of Good Hope.