Fifth sanctioned Russian LNG carrier arrives at Chinese port: CAS

A fifth sanctioned Russian LNG carrier arrived at the Tieshan terminal in the Port of Beihai, southern China, on Sept. 16, just two days after the previous ship departed the terminal, according to S&P Global Commodities at Sea.

The Iris — formerly known as the North Sky — arrived at the Tieshan terminal in the Port of Beihai at 0419 GMT on Sept. 16, with an indicated draft of 11.7 meters, CAS data showed.

The arrival of the Iris follows the departure of the fourth sanctioned Russian LNG tanker, the Buran — formerly known as the North Air — which left the Tieshan terminal with an indicated draft of 9.8 meters at 0144 GMT on Sept. 14, down from an indicated draft of 11.6 meters earlier, according to CAS.

In June, after the commissioning of the second train, CAS data showed that loadings from the Arctic LNG 2 project had resumed, with the Iris arriving at the site on June 26.

The Arctic Vostok — formerly known as the East Energy — appears to be the sixth sanctioned Russian ship arriving at Beihai in the next few days, as it was southwest of Hainan Island at 0845 GMT on Sept. 12, sailing northwest of the island in the South China Sea, according to CAS. The EU sanctioned the East Energy — formerly known as Asya Energy — in February after the US sanctioned Asya Energy in August 2024.

Traded prices

Market sources indicated that the Arctic LNG 2 cargoes were traded at prices ranging from $8 to $8.50/MMBtu; however, this information has not yet been confirmed.

Meanwhile, trucked LNG prices in Beihai have remained stable compared to last week, at approximately Yuan 3,900/mt, equivalent to about $10.4/MMBtu. The increase in supply has also contributed to lower prices in the nearby province of Guangdong, which are currently around Yuan 4,100/mt, while downstream demand continues to show no signs of recovery.

Platts assessed the October JKM, the benchmark price for LNG cargoes delivered to Northeast Asia, at $11.264/MMBtu on Sept. 15, and the JKM October full-month average at $11.360/MMBtu.

The US government has issued fresh warnings that engaging in business with Russia's Arctic LNG 2 poses a "significant sanctions risk," a State Department spokesperson told Platts, part of S&P Global Energy, on Sept. 10.

Beihai terminal

Located in the Guangxi Zhuang Autonomous Region in southwestern China, the Beihai LNG terminal has a receiving capacity of 6 million mt/year.

The terminal features a dedicated berth capable of accommodating LNG carriers ranging from 80,000 cu m to 266,000 cu m, along with four LNG storage tanks, each with a capacity of 160,000 cu m.

The terminal is currently operated by China's national energy infrastructure company, the National Oil and Gas Pipeline Network Group, or PipeChina.

According to public business registration information, PipeChina is jointly owned by several state-owned enterprises and organizations, including PetroChina (29.9%), Sinopec (14%), and CNOOC (2.9%).

In a recent update on Aug. 15, PipeChina released a list of facilities with remaining receiving capacity for third-party access to LNG imports between September and December 2025; notably, the Beihai LNG terminal was not included. Domestic trade sources suggest that this could indicate that slots at the terminal are fully booked during this period.

The North Sky and several other LNG ships linked to the Arctic LNG 2 project were sanctioned by the US in August 2024 as part of Washington's crackdown on Russian energy exports.

Another sanctioned tanker — the La Perouse — called at Arctic LNG 2 on Aug. 27, according to CAS. It is the first of the recently loaded ships to have traveled west rather than east along the Northern Sea Route.

As of 0917 GMT on Sept. 16, the La Perouse was heading south of Congo, according to CAS. The La Perouse — formerly called the SCF La Perouse — was sanctioned by the UK in September 2024.

Novatek holds a 60% stake in Arctic LNG 2, alongside France's TotalEnergies, China's CNPC and CNOOC, and Japan Arctic LNG, all of which hold 10% stakes.

Japan Arctic LNG BV is a Dutch corporation that is 75% owned by the Japan Organization for Metals and Energy Security and 25% owned by Mitsui.