10/12/2025 – Turkstream relocates to Hungary to avoid Western sanctions – Read more news
GAS & POWER: The Chinese port of Beihai remains the preferred destination for Russian liquefied gas from terminals subject to Western sanctions. After receiving more than a dozen shipments from Arctic LNG 2 since the end of August, a delivery from the smaller Portovaya LNG terminal arrived over the weekend. The closure of the Northern Sea Route, which crosses the Arctic Ocean, could slow arrivals in the coming weeks.
The operator of the TurkStream gas pipeline has announced the transfer of its registered office from the Netherlands to Hungary. The decision aims to ensure the full operational continuity of the infrastructure, after a Gazprom subsidiary became embroiled in legal disputes in the Netherlands. The change of jurisdiction comes at a favourable political moment for Budapest: at the beginning of the month, the Orban government celebrated obtaining an exemption from US sanctions on Russian oil and gas.
The operator of the TurkStream gas pipeline has announced the transfer of its registered office from the Netherlands to Hungary. The decision aims to ensure the full operational continuity of the infrastructure, after a Gazprom subsidiary became embroiled in legal disputes in the Netherlands. The change of jurisdiction comes at a favourable political moment for Budapest: at the beginning of the month, the Orban government celebrated obtaining an exemption from US sanctions on Russian oil and gas.
