A media report indicating that Japanese shipowner MOL and South Korean shipbuilder Hanwha may be preparing to sell six Arc7 and four Arc4 ice-class LNG tankers to the Russian energy company Novatek is deeply alarming.
Such a transaction would immediately help Russia ease the logistical bottlenecks holding back the sanctioned Arctic LNG 2 project.
If MOL and Hanwha proceed, they would be stabbing Ukraine in the back. Such a move would significantly undermine the support provided to Ukraine by the governments and people of Japan and South Korea.
It would also undermine U.S. sanctions. Arctic LNG 2 is clearly sanctioned, Novatek owns 60% of the project, and it is no secret that Novatek urgently needs additional ice-class LNG shipping capacity to make Arctic LNG 2 work.
Routing the transaction through Novatek’s Singapore-based subsidiary, Novatek Gas & Power Asia Pte. Ltd., does not change this reality.
Last but not least, the deal would seriously weaken the impact of the EU’s proposed ban on LNG tanker sales, announced just two days ago.
Supporters of Ukraine must act to prevent this sale.