China is building up ’shadow fleet’ to import Russian LNG despite US sanctions - Bloomberg
China is stepping up efforts to import Russian liquefied natural gas, which is subject to US sanctions, by creating its own "shadow fleet" to circumvent restrictions.
This was reported by Bloomberg, according to Censor.NET.
According to the publication, China is only beginning to develop such schemes, but the movement and ownership of ships already resemble practices in the Russian oil market, where a shadow fleet also operates. For example, the LNG tanker CCH Gas, which transports Russian cargo subject to sanctions, hides its location near Chinese ports. Its registered owner, CCH-1 Shipping Co., has an address in Hong Kong that coincides with the mailbox of Samxin Secretarial Services Ltd, a company known for its opaque operations.
Another vessel, renamed Kunpeng, was recently spotted near Singapore. According to the Equasis database, its ownership was transferred to little-known companies in China and the Marshall Islands linked to firms that previously traded in "black" fuel.
Experts note that creating a shadow LNG fleet is more difficult than for oil: there are only about 800 specialized gas tankers in the world, compared to 8,000 oil tankers, so it is much more difficult to hide their location.
US sanctions against Russia
- We would like to remind you that earlier, US Treasury Secretary Scott Bessent stated that the US intends to announce a significant tightening of sanctions against Russia on October 23 or 24.
- Subsequently, the US Treasury Department announced the imposition of sanctions against major Russian oil companies Rosneft and Lukoil. The reason for the additional sanctions was Russia's lack of serious commitment to the peace process aimed at ending the war in Ukraine.
- US Treasury Secretary Bessent believes that Trump's new sanctions will reduce Russia's oil revenues by 30%.
- Indian oil refineries have suspended orders for Russian oil following the introduction of US sanctions against Russia, as they await clarification from the government and suppliers.
