Russia Begins Use of World’s Largest FSU in LNG ‘Shadow Fleet’ Scheme

By Malte Humpert (gCaptain) –

Russia added the next piece to its game of ‘shadow fleet’ chess. Recently sanctioned carrier Everest Energy, carrying a load of liquefied gas from Arctic LNG 2, has taken up position next to the world’s largest floating LNG storage barge.

Vessel tracking sites show the LNG carrier alongside Saam FSU, likely transferring its cargo to the storage barge. In contrast to recent activity by the shadow fleet, Everest Energy did not attempt to spoof its AIS signal.

The 361,600-cbm Saam FSU, built by Hanwha in South Korea, was towed into position 50 kilometers northwest of Murmansk in Ura-Guba Bay in June 2023. But it has thus far sat idle due to U.S. sanctions.

Novatek, the operator of Arctic LNG 2 and the thus far unsanctioned Yamal LNG project, had intended to transfer LNG via the FSU to optimize the use of its ice-class LNG carriers. Now it appears to become part of its growing shadow fleet operation.

“The Saam FSU can offer a storage buffer of around 16 days since GBS-1 [Train 1 of Arctic LNG 2] is operating at slightly below 50% of its nameplate capacity, up to 27 days if at 30%, which is the minimum required to sustain the liquefaction process,” explains Mehdy Touil, a lead LNG specialist at Calypso Commodities.

Everest Energy may be used to establish a shuttle service between Arctic LNG 2 and the storage barge, Touil speculated.

Saam FSU June 2023 — *Saam FSU* being towed into place in Ura-Guba Bay in June 2023. (Source: Rosmorport)

Russia began loading cargo from its Arctic LNG 2 project four weeks ago using a growing dark fleet of aging LNG carriers, as first reported by gCaptain. Since then at least three vessels have picked up LNG at the facility, with additional loadings expected on a weekly basis.

Both Everest Energy and Asya Energy remain in Russian waters loaded with cargo following the suspension of their flag by Palau authorities, pending an investigation. The de-flagging has seemingly thrown at least a temporary wrench into Russia’s attempts to channel sanctioned LNG to buyers.

Everest Energy Route AIS — *Everest Energy* and *Saam FSU* Ura-Guba Bay as well as *Asia Energy* in Kola Bay. (Source: Shipatlas)

Asya Energy had reached the waters of southern Norway when it turned around last week and sailed back toward Murmansk on the news of U.S. sanctions and suspension of its flag. The vessel currently sits in Kola Bay east of Saam FSU.

Meanwhile, the third confirmed vessel of the dark fleet, Pioneer, conducted a STS operation with New Energy north of the Suez Canal last week. Both vessels have remained idle since then, suggesting that a Suez Canal transit for sanctioned or unflagged vessels may represent a challenge.