{"id":54852,"date":"2026-10-20T07:00:00","date_gmt":"2026-10-20T05:00:00","guid":{"rendered":"https:\/\/danwatch.dk\/?p=54852"},"modified":"2026-10-20T14:28:44","modified_gmt":"2026-10-20T12:28:44","slug":"contributing-to-putins-war-danish-owned-company-ships-russian-gas-worth-dkk-10-billion","status":"publish","type":"post","link":"https:\/\/danwatch.dk\/en\/contributing-to-putins-war-danish-owned-company-ships-russian-gas-worth-dkk-10-billion\/","title":{"rendered":"Contributing to Putin\u2019s war: Danish-owned company ships Russian gas worth $1.5 billion"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Six specially built icebreaking tankers operated from a company in Copenhagen have, since April, cut through Arctic ice and carried Russian liquefied natural gas (LNG) worth around $1.5 billion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is shown by a calculation the German NGO and campaign organisation Urgewald has produced for Danwatch, after we <a href=\"https:\/\/danwatch.dk\/en\/after-new-sanctions-danish-owned-company-takes-over-russian-gas-business\/\">revealed<\/a> the link between Russian gas transport and a Danish holding company registered at Kalvebod Brygge 39.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The market value of the gas, which is often unloaded in European ports, is supported by data from <a href=\"http:\/\/www.marinetraffic.com\/\">MarineTraffic<\/a> provided to Danwatch. Since April, the six tankers have shipped almost one fifth of all the LNG Russia exported in the period from April to September.  <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This brings to light that the Danish company Seapeak Maritime Holdings (Denmark) makes a major contribution to Russia\u2019s billion-dollar energy revenues, which help finance the war against Ukraine.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Danish link to Russia\u2019s billion-kroner revenues was established in the spring, when the global shipping giant Seapeak moved the operation of the ships from a company in Scotland (UK) to a company in Singapore with Danish ownership.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Danish-owned Singapore company\u2019s role as so-called <em>commercial manager<\/em> includes keeping track of the ships\u2019 cargo and coordinating with ports when the gas is to be unloaded.<\/p>\n\n\n<style id=\"bricks-inline-css-component-nopbhf\">\n\/* BREAKPOINT: Desktop (BASE) *\/\n.block-editor-iframe__body .brxe-fvofzw:not(.tag), .block-editor-iframe__body .brxe-fvofzw img{aspect-ratio: 1}\n.block-editor-iframe__body .brxe-fvofzw{border-radius: var(--radius); width: calc(0.7 * var(--width-xs))}\n\n\n\/* BREAKPOINT: Desktop (BASE) *\/\n.block-editor-iframe__body .brxe-bpydxv .post-prefix{color: var(--action)}\n.block-editor-iframe__body .brxe-bpydxv{margin-top: 0 !important; font-size: var(--h3)}\n\n\n\/* BREAKPOINT: Desktop (BASE) *\/\n.block-editor-iframe__body .brxe-jkaers{row-gap: var(--space-xs)}\n\n\n\/* BREAKPOINT: Desktop (BASE) *\/\n.block-editor-iframe__body .brxe-nopbhf{flex-direction: row; display: flex; column-gap: var(--space-s); margin-top: var(--space-xl); margin-bottom: var(--space-xl); align-items: flex-start; position: relative}\n\n\/* BREAKPOINT: Tablet portrait *\/\n@media (max-width: 1091px){\n.block-editor-iframe__body .brxe-nopbhf{flex-wrap: nowrap}\n}\n\/* BREAKPOINT: Mobile landscape *\/\n@media (max-width: 840px){\n.block-editor-iframe__body .brxe-nopbhf{flex-wrap: nowrap}\n}\n\/* BREAKPOINT: Mobile portrait *\/\n@media (max-width: 478px){\n.block-editor-iframe__body .brxe-nopbhf{flex-wrap: nowrap}\n}\n<\/style><div class=\"brxe-nopbhf brxe-block\"><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/danwatch.dk\/wp-content\/uploads\/2026\/09\/image-3-150x150.jpg\" class=\"brxe-fvofzw brxe-image css-filter size-thumbnail\" alt=\"Image (3)\" srcset=\"https:\/\/danwatch.dk\/wp-content\/uploads\/2026\/09\/image-3-150x150.jpg 150w, https:\/\/danwatch.dk\/wp-content\/uploads\/2026\/09\/image-3-60x60.jpg 60w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><div class=\"brxe-jkaers brxe-block\"><h4 class=\"brxe-bpydxv brxe-post-title clickable-parent\"><a href=\"https:\/\/danwatch.dk\/en\/after-new-sanctions-danish-owned-company-takes-over-russian-gas-business\/\"><span class=\"post-prefix\">L\u00e6s ogs\u00e5: <\/span>After new sanctions: Danish-owned company takes over Russian LNG business<\/a><\/h4><div class=\"brxe-kbkogb brxe-post-meta article-card__meta post-meta\"><span class=\"item\">22\/09\/2026<\/span><\/div><\/div><\/div>\n\n\n<p class=\"wp-block-paragraph\">Danwatch has presented the information to the international think tank Centre for Research on Energy and Clean Air (CREA), which maps energy markets.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They conclude that the tankers contribute substantially to Russia\u2019s gas revenues.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cSeapeak\u2019s six tankers transported 18% of all the LNG Russia exported between April and September 2026, and one third of everything shipped from Yamal, Russia\u2019s largest LNG project,\u201d says Luke Wickenden, an analyst at CREA.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">31 of a total of 37 cargoes from the six ships carrying Russian gas were unloaded in the EU, including in Rotterdam in the Netherlands and Bilbao in Spain.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A recent example, which Danwatch has previously <a href=\"https:\/\/danwatch.dk\/en\/danish-shipyard-keeps-russian-gas-business-afloat-now-eu-politicians-step-in\/\">written about<\/a>, is the tanker Nikolay Yevgenov, which on 2 September unloaded 73,000 tonnes of Russian LNG in Dunkirk, France.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">After that, the ship sailed directly on to be serviced at the Danish shipyard Fayard.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to Urgewald, 159 out of a total of 180 deliveries from Yamal up to the beginning of September went to European ports.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Russian billion-kroner revenues and strategic significance<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Europe remains by far the most important LNG market for the Yamal facility, located in the ice-filled Russian Arctic in northern Russia, from where the gas on board the six tankers is exported.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The ships sail on long-term contracts for Yamal Trade, which handles all sales and transport of gas from the Yamal facility. The facility is one of Russia\u2019s most economically important energy installations and is controlled by the Russian gas company Novatek. <\/p>\n\n\n<style>.kt-accordion-id54852_0b624d-e3 .kt-accordion-inner-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:10px;}.kt-accordion-id54852_0b624d-e3 .kt-accordion-panel-inner{border-right:0px solid transparent;border-bottom:0px solid transparent;border-left:0px solid transparent;padding-top:var(--global-kb-spacing-sm, 1.5rem);padding-right:var(--global-kb-spacing-sm, 1.5rem);padding-bottom:var(--global-kb-spacing-sm, 1.5rem);padding-left:var(--global-kb-spacing-sm, 1.5rem);}.kt-accordion-id54852_0b624d-e3 > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header{background:#ffffff;padding-top:14px;padding-right:16px;padding-bottom:14px;padding-left:16px;}.kt-accordion-id54852_0b624d-e3:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-blocks-accordion-icon-trigger:after, .kt-accordion-id54852_0b624d-e3:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-blocks-accordion-icon-trigger:before{background:#ffffff;}.kt-accordion-id54852_0b624d-e3 > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header:hover, \n\t\t\t\tbody:not(.hide-focus-outline) .kt-accordion-id54852_0b624d-e3 .kt-blocks-accordion-header:focus-visible{color:#2b2b29;background:#ffffff;}.kt-accordion-id54852_0b624d-e3:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle ) .kt-accordion-header-wrap .kt-blocks-accordion-header:hover .kt-blocks-accordion-icon-trigger:after, .kt-accordion-id54852_0b624d-e3:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle ) .kt-accordion-header-wrap .kt-blocks-accordion-header:hover .kt-blocks-accordion-icon-trigger:before, body:not(.hide-focus-outline) .kt-accordion-id54852_0b624d-e3:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle ) .kt-blocks-accordion--visible .kt-blocks-accordion-icon-trigger:after, body:not(.hide-focus-outline) .kt-accordion-id54852_0b624d-e3:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle ) .kt-blocks-accordion-header:focus-visible .kt-blocks-accordion-icon-trigger:before{background:#2b2b29;}.kt-accordion-id54852_0b624d-e3:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-accordion-header-wrap .kt-blocks-accordion-header:hover .kt-blocks-accordion-icon-trigger, body:not(.hide-focus-outline) .kt-accordion-id54852_0b624d-e3:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-accordion-header-wrap .kt-blocks-accordion-header:focus-visible .kt-blocks-accordion-icon-trigger{background:#2b2b29;}.kt-accordion-id54852_0b624d-e3:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-accordion-header-wrap .kt-blocks-accordion-header:hover .kt-blocks-accordion-icon-trigger:after, .kt-accordion-id54852_0b624d-e3:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-accordion-header-wrap .kt-blocks-accordion-header:hover .kt-blocks-accordion-icon-trigger:before, body:not(.hide-focus-outline) .kt-accordion-id54852_0b624d-e3:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-accordion-header-wrap .kt-blocks-accordion-header:focus-visible .kt-blocks-accordion-icon-trigger:after, body:not(.hide-focus-outline) .kt-accordion-id54852_0b624d-e3:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-accordion-header-wrap .kt-blocks-accordion-header:focus-visible .kt-blocks-accordion-icon-trigger:before{background:#ffffff;}.kt-accordion-id54852_0b624d-e3 .kt-accordion-header-wrap .kt-blocks-accordion-header:focus-visible,\n\t\t\t\t.kt-accordion-id54852_0b624d-e3 > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header.kt-accordion-panel-active{color:#2b2b29;background:#ffffff;border-top-color:#fb4124;border-right-color:#fb4124;border-bottom-color:#fb4124;border-left-color:#fb4124;}.kt-accordion-id54852_0b624d-e3:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle )  > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header.kt-accordion-panel-active .kt-blocks-accordion-icon-trigger:after, .kt-accordion-id54852_0b624d-e3:not( .kt-accodion-icon-style-basiccircle ):not( .kt-accodion-icon-style-xclosecircle ):not( .kt-accodion-icon-style-arrowcircle )  > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header.kt-accordion-panel-active .kt-blocks-accordion-icon-trigger:before{background:#2b2b29;}.kt-accordion-id54852_0b624d-e3:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-blocks-accordion-header.kt-accordion-panel-active .kt-blocks-accordion-icon-trigger{background:#2b2b29;}.kt-accordion-id54852_0b624d-e3:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-blocks-accordion-header.kt-accordion-panel-active .kt-blocks-accordion-icon-trigger:after, .kt-accordion-id54852_0b624d-e3:not( .kt-accodion-icon-style-basic ):not( .kt-accodion-icon-style-xclose ):not( .kt-accodion-icon-style-arrow ) .kt-blocks-accordion-header.kt-accordion-panel-active .kt-blocks-accordion-icon-trigger:before{background:#ffffff;}@media all and (max-width: 1024px){.kt-accordion-id54852_0b624d-e3 .kt-accordion-panel-inner{border-right:0px solid transparent;border-bottom:0px solid transparent;border-left:0px solid transparent;}}@media all and (max-width: 1024px){.kt-accordion-id54852_0b624d-e3 .kt-accordion-header-wrap .kt-blocks-accordion-header:focus-visible,\n\t\t\t\t.kt-accordion-id54852_0b624d-e3 > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header.kt-accordion-panel-active{border-top-color:#fb4124;border-right-color:#fb4124;border-bottom-color:#fb4124;border-left-color:#fb4124;}}@media all and (max-width: 767px){.kt-accordion-id54852_0b624d-e3 .kt-accordion-inner-wrap{display:block;}.kt-accordion-id54852_0b624d-e3 .kt-accordion-inner-wrap .kt-accordion-pane:not(:first-child){margin-top:10px;}.kt-accordion-id54852_0b624d-e3 .kt-accordion-panel-inner{border-right:0px solid transparent;border-bottom:0px solid transparent;border-left:0px solid transparent;}.kt-accordion-id54852_0b624d-e3 .kt-accordion-header-wrap .kt-blocks-accordion-header:focus-visible,\n\t\t\t\t.kt-accordion-id54852_0b624d-e3 > .kt-accordion-inner-wrap > .wp-block-kadence-pane > .kt-accordion-header-wrap > .kt-blocks-accordion-header.kt-accordion-panel-active{border-top-color:#fb4124;border-right-color:#fb4124;border-bottom-color:#fb4124;border-left-color:#fb4124;}}<\/style>\n<div class=\"wp-block-kadence-accordion alignnone ticss-950d3ebc dw-harmonika\"><div class=\"kt-accordion-wrap kt-accordion-id54852_0b624d-e3 kt-accordion-has-4-panes kt-active-pane-0 kt-accordion-block kt-pane-header-alignment-left kt-accodion-icon-style-arrow kt-accodion-icon-side-right\" style=\"max-width:none\"><div class=\"kt-accordion-inner-wrap\" data-allow-multiple-open=\"false\" data-start-open=\"none\">\n<div class=\"wp-block-kadence-pane kt-accordion-pane kt-accordion-pane-1 kt-pane54852_ada3bb-03 ticss-5dcf59ac\"><div class=\"kt-accordion-header-wrap\"><button class=\"kt-blocks-accordion-header kt-acccordion-button-label-show\" type=\"button\"><span class=\"kt-blocks-accordion-title-wrap\"><span class=\"kt-blocks-accordion-title\"><strong>Facts: Russian gas from Yamal LNG and the Danish links<\/strong><\/span><\/span><span class=\"kt-blocks-accordion-icon-trigger\"><\/span><\/button><\/div><div class=\"kt-accordion-panel kt-accordion-panel-hidden\"><div class=\"kt-accordion-panel-inner\">\n<p class=\"wp-block-paragraph\">Yamal LNG is a Russian gas and LNG facility at the port of Sabetta on the Yamal Peninsula in northern Russia. The gas is extracted from the large South Tambey gas field. The gas is cooled into liquefied natural gas, LNG, which can be transported by sea.   <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The gas is shipped in specially built, icebreaking Arc 7 tankers that can sail through Arctic ice-filled waters.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Yamal LNG is owned by the Russian energy company Novatek (50%), France\u2019s TotalEnergies (20%), the state-owned Chinese oil company China National Petroleum Corporation (CNPC) (20%), and the Chinese investment fund Silk Road Fund (10%).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Novatek is thus the controlling owner. TotalEnergies also owns 19.4% of Novatek, among others alongside the Russian gas company Gazprom, and therefore has a financial link to Yamal LNG, both directly and indirectly via its stake in the Russian energy company. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>The Danish links<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The Danish company Seapeak Maritime Holdings (Denmark) owns 100% of Seapeak Maritime (Singapore) Ltd., which is responsible for the commercial operation of six Arc7 tankers, all of which carry gas from Yamal LNG: <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>Eduard Toll<\/em>, IMO 9750696<\/li>\n\n\n\n<li><em>Rudolf Samoylovich<\/em>, IMO 9750713<\/li>\n\n\n\n<li><em>Nikolay Yevgenov<\/em>, IMO 9750725<\/li>\n\n\n\n<li><em>Vladimir Voronin<\/em>, IMO 9750737<\/li>\n\n\n\n<li><em>Georgiy Ushakov<\/em>, IMO 9750749<\/li>\n\n\n\n<li><em>Yakov Gakkel<\/em>, IMO 9750672<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The ships carry the gas on long-term contracts with the company Yamal Trade, which is a subsidiary of Yamal LNG.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Seapeak group owns 50% of the ships through the joint venture company TC LNG Shipping. The other half is owned by China LNG Shipping (Holdings).  <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Several of the six ships have also been serviced at the Danish shipyard Fayard, located on Funen.<\/p>\n<\/div><\/div><\/div>\n<\/div><\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">This means the six ships, under Danish-owned management, form part of the gas business that generates billion-kroner revenues for Novatek.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to Novatek\u2019s <a href=\"https:\/\/www.novatek.ru\/common\/upload\/doc\/04_Annual_Report.pdf\">annual report<\/a>, the company last year paid around 280 billion roubles in tax\u2014equivalent to just over DKK 22 billion\u2014to the Russian state.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to Jeremy Morris, Professor of Russian Studies at Aarhus University, the sale of LNG from Yamal has more than just economic significance for Russia.<\/p>\n\n\n<style>.kt-blocks-testimonials-wrap54852_676248-19 .kt-svg-testimonial-global-icon{font-size:30px;border-top:0px solid;border-right:0px solid;border-bottom:0px solid;border-left:0px solid;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.kt-blocks-testimonials-wrap54852_676248-19 .kt-testimonial-rating-wrap .kb-svg-icon-wrap{color:#ffd700;font-size:16px;}.kt-blocks-testimonials-wrap54852_676248-19 .kt-testimonial-grid-wrap{gap:30px;}.kt-blocks-testimonials-wrap54852_676248-19 .kt-testimonial-item-wrap{padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.kt-blocks-testimonials-wrap54852_676248-19 .kt-testimonial-content{color:#333333;}.kt-blocks-testimonials-wrap54852_676248-19 .kt-testimonial-name{color:#333333;}.kt-blocks-testimonials-wrap54852_676248-19 .kt-testimonial-occupation{color:#555555;font-size:15px;}.kt-blocks-testimonials-wrap54852_676248-19 .kt-testimonial-item-wrap{max-width:500px;}.kt-blocks-testimonials-wrap54852_676248-19 .kt-testimonial-media-inner-wrap{width:60px;border-top:0px solid #555555;border-right:0px solid #555555;border-bottom:0px solid #555555;border-left:0px solid #555555;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.kt-blocks-testimonials-wrap54852_676248-19 .kt-svg-testimonial-icon{justify-content:center;align-items:center;}.kt-blocks-testimonials-wrap54852_676248-19 .kt-svg-testimonial-global-icon svg{display:inline-block;vertical-align:middle;}@media all and (max-width: 1024px){.kt-blocks-testimonials-wrap54852_676248-19 .kt-svg-testimonial-global-icon{border-top:0px solid;border-right:0px solid;border-bottom:0px solid;border-left:0px solid;}}@media all and (max-width: 1024px){.kt-blocks-testimonials-wrap54852_676248-19 .kt-testimonial-media-inner-wrap{border-top:0px solid #555555;border-right:0px solid #555555;border-bottom:0px solid #555555;border-left:0px solid #555555;}}@media all and (max-width: 767px){.kt-blocks-testimonials-wrap54852_676248-19 .kt-svg-testimonial-global-icon{border-top:0px solid;border-right:0px solid;border-bottom:0px solid;border-left:0px solid;}.kt-blocks-testimonials-wrap54852_676248-19{padding-top:px;padding-bottom:px;margin-top:px;margin-bottom:px;}.kt-blocks-testimonials-wrap54852_676248-19 .kt-testimonial-media-inner-wrap{border-top:0px solid #555555;border-right:0px solid #555555;border-bottom:0px solid #555555;border-left:0px solid #555555;}}<\/style><div class=\"kt-blocks-testimonials-wrap54852_676248-19 kt-testimonial-halign-left kt-testimonial-style-basic kt-testimonials-media-on kt-testimonials-icon-on kt-testimonial-columns-1 kt-t-xxl-col-1 kt-t-xl-col-1 kt-t-lg-col-1 kt-t-md-col-1 kt-t-sm-col-1 kt-t-xs-col-1 dw-citat-wrapper wp-block-kadence-testimonials\"><ul class=\"kt-blocks-testimonials-inner-wrap kt-testimonial-grid-wrap\">\n<li class=\"kt-testimonial-grid-item\"><div class=\"kt-testimonial-item-wrap kt-testimonial-item-54852_6c4bb6-9e wp-block-kadence-testimonial\"><div class=\"kt-testimonial-text-wrap\"><div class=\"kt-svg-testimonial-global-icon-wrap\"><div class='kt-svg-testimonial-global-icon kt-svg-testimonial-global-icon-icon-ic_quoteSerifRight'><svg viewBox=\"0 0 8 8\"  fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M0 0v3h2c0 1.11-.89 2-2 2v1c1.65 0 3-1.35 3-3v-3h-3zm5 0v3h2c0 1.11-.89 2-2 2v1c1.65 0 3-1.35 3-3v-3h-3z\" transform=\"translate(0 1)\"\/><\/svg><\/div><\/div><div class=\"kt-testimonial-content-wrap\"><blockquote class=\"kt-testimonial-content\">The most important thing about Yamal is not necessarily the tax revenues, but that Europe remains a crucial market.<\/blockquote><\/div><\/div><div class=\"kt-testimonial-meta-wrap\"><div class=\"kt-testimonial-media-wrap\"><div class=\"kt-testimonial-media-inner-wrap\"><div class=\"kadence-testimonial-image-intrisic\"><img loading=\"lazy\" decoding=\"async\" width=\"149\" height=\"150\" src=\"https:\/\/danwatch.dk\/wp-content\/uploads\/2026\/10\/Skaermbillede-2026-10-19-kl.-23.03.41-149x150.png\" class=\"kt-testimonial-image wp-image-54809 size-thumbnail\" alt=\"Sk\u00e6rmbillede 2026 10 19 kl. 23.03.41\" srcset=\"https:\/\/danwatch.dk\/wp-content\/uploads\/2026\/10\/Skaermbillede-2026-10-19-kl.-23.03.41-149x150.png 149w, https:\/\/danwatch.dk\/wp-content\/uploads\/2026\/10\/Skaermbillede-2026-10-19-kl.-23.03.41-60x60.png 60w\" sizes=\"auto, (max-width: 149px) 100vw, 149px\" \/><\/div><\/div><\/div><div class=\"kt-testimonial-meta-name-wrap\"><div class=\"kt-testimonial-name-wrap\"><div class=\"kt-testimonial-name\">Jeremy Morris<\/div><\/div><div class=\"kt-testimonial-occupation-wrap\"><div class=\"kt-testimonial-occupation\">Professor, Aarhus University <\/div><\/div><\/div><\/div><\/div><\/li>\n<\/ul><\/div>\n\n\n<p class=\"wp-block-paragraph\">\u201cThe most important thing about Yamal is not necessarily the tax revenues, but that Europe remains a crucial market. That makes Russian LNG strategically important for both Russia and Europe and helps to maintain European and Chinese economic interests around Russian energy,\u201d says Jeremy Morris.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He also points out that pressure on the Russian economy means that even smaller sources of income become more significant.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cLNG accounts for a relatively small share of Russia\u2019s total oil and gas revenues, but in a strained war economy even marginal revenues matter. Russia has tried to compensate for falling energy revenues with higher domestic taxes, but it has not been able to plug the gap,\u201d says Jeremy Morris.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Seapeak profits from both operations and ownership<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Through a joint venture, TC LNG Shipping, Seapeak owns half of the six tankers that sail with Russian LNG.<br><br>Last year, TC LNG Shipping had revenues of around DKK 1.74 billion and at the same time paid at least DKK 55.7 million to other companies in the Seapeak group for, among other things, ship operations, administration and services linked to Yamal shipments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Seapeak thus has both income linked to the commercial operation and a major financial interest in the ships themselves, as well as freight revenues.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Behind the Seapeak group is the US private equity firm Stonepeak as owner.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThere are only 15 Arc7 tankers (ships built to sail through thick Arctic sea ice, ed.) in the world, and Russia cannot simply replace them overnight. That is why this is one of the areas where pressure on Russian gas can be felt most,\u201d says Luke Wickenden. <\/p>\n\n\n<div class=\"wp-block-image dw-image\">\n<figure data-gkt-effects=\"{&quot;reveal&quot;:{&quot;x&quot;:0,&quot;y&quot;:50,&quot;opacity&quot;:0,&quot;scale&quot;:1,&quot;transition&quot;:{&quot;type&quot;:&quot;easing&quot;,&quot;duration&quot;:0.9,&quot;delay&quot;:0,&quot;easing&quot;:[0.5,0,0,1]}}}\" class=\"aligncenter size-full is-resized ghostkit-effects-reveal\"><img loading=\"lazy\" decoding=\"async\" width=\"480\" height=\"633\" src=\"https:\/\/danwatch.dk\/wp-content\/uploads\/2026\/10\/Skaermbillede-2026-10-20-kl.-09.27.43.png\" alt=\"Screenshot 2026-10-20 at 09:27:43\" class=\"wp-image-54819\" style=\"aspect-ratio:1.501508211373031;width:622px;height:auto\" srcset=\"https:\/\/danwatch.dk\/wp-content\/uploads\/2026\/10\/Skaermbillede-2026-10-20-kl.-09.27.43.png 480w, https:\/\/danwatch.dk\/wp-content\/uploads\/2026\/10\/Skaermbillede-2026-10-20-kl.-09.27.43-227x300.png 227w, https:\/\/danwatch.dk\/wp-content\/uploads\/2026\/10\/Skaermbillede-2026-10-20-kl.-09.27.43-406x536.png 406w\" sizes=\"auto, (max-width: 480px) 100vw, 480px\" \/><figcaption class=\"wp-element-caption\">Danwatch has on several occasions unsuccessfully sought a comment from Seapeak in Denmark. Here we visit the office on Kalvebod Brygge, where no employees were present. Photo: Danwatch.   <\/figcaption><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><strong>Expert: \u201cIt may create sanctions-related challenges\u201d<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The transfer of operational tasks to Danish ownership took place at the same time as the EU and the UK tightened sanctions and introduced new restrictions specifically targeting Russia\u2019s LNG exports and the service and shipping industry involved.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At the same time, the EU requires European companies that own or control companies outside the EU to ensure that the foreign companies do not take part in activities that undermine sanctions against Russia.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to sanctions expert and lawyer Lars Brodersen from <a href=\"http:\/\/tradecompliance.dk\">TradeCompliance.dk<\/a>, EU sanctions also apply to EU citizens and EU companies outside the EU.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThe decisive factor will therefore be to assess whether the EU company owns and controls the company carrying out the transactions. And if these transactions contravene EU sanctions against Russia, it may create sanctions-related challenges for the EU parent company,\u201d he says.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Danwatch has repeatedly asked Seapeak\u2019s management in Denmark what responsibility the Danish holding company has for the activities of the Singapore company, and whether the new sanctions may affect the Danish ownership structure around the operation of the ships.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company has still not responded.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Six tankers operated by a Danish-owned company have been shipping Russian LNG worth billions of dollars since April. The gas contributes to tax revenues for the Russian state. <\/p>\n","protected":false},"author":154,"featured_media":54853,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_gspb_post_css":"","_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","ghostkit_customizer_options":"","ghostkit_custom_css":"","ghostkit_custom_js_head":"","ghostkit_custom_js_foot":"","ghostkit_typography":"","slim_seo":{"title":"Contributing to Putin\u2019s war: Danish-owned company ships Russian gas worth $1.5 billion","description":"Six tankers operated by a Danish-owned company have been shipping Russian LNG worth billions of dollars since April. The gas contributes to tax revenues for the"},"iawp_total_views":16,"_slim_seo_primary_term_category":2,"_slim_seo_primary_term_post_tag":160,"_slim_seo_primary_term_branche":502,"_slim_seo_primary_term_del-af-undersogelse":2908,"_slim_seo_primary_term_genre":2023,"_slim_seo_primary_term_land":153,"_slim_seo_primary_term_serie-fokus":0,"_slim_seo_primary_term_tema":0,"_slim_seo_primary_term_virksomhed":2898,"footnotes":"","_ppma_block_editor_authors":""},"categories":[2],"tags":[160],"branche":[502],"del-af-undersogelse":[2908],"genre":[2023],"land":[153,146,157],"serie-fokus":[],"sorteres-som":[],"styling-design":[],"tema":[],"virksomhed":[2898],"ppma_author":[2449],"class_list":["post-54852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-sanktioner-3","branche-energy","del-af-undersogelse-russias-european-money-machine","genre-news","land-danmark-2","land-rusland-2","land-usa-2","virksomhed-seapeak"],"acf":[],"taxonomy_info":{"category":[{"value":2,"label":"Uncategorized"}],"post_tag":[{"value":160,"label":"Sanktioner"}],"branche":[{"value":502,"label":"Energy"}],"del-af-undersogelse":[{"value":2908,"label":"Russia\u2019s European money machine"}],"genre":[{"value":2023,"label":"News"}],"land":[{"value":153,"label":"Danmark"},{"value":146,"label":"Rusland"},{"value":157,"label":"USA"}],"virksomhed":[{"value":2898,"label":"Seapeak"}]},"featured_image_src_large":["https:\/\/danwatch.dk\/wp-content\/uploads\/2026\/10\/ZKUYsQFMeLlHzf9RqceTnbP83yayWpe3-1024x632.jpg",1024,632,true],"author_info":{"display_name":"Joachim Kattrup","author_link":"https:\/\/danwatch.dk\/en\/author\/jkdanwatch-dk\/"},"comment_info":0,"category_info":[{"term_id":2,"name":"Uncategorized","slug":"uncategorized","term_group":0,"term_taxonomy_id":2,"taxonomy":"category","description":"","parent":0,"count":202,"filter":"raw","cat_ID":2,"category_count":202,"category_description":"","cat_name":"Uncategorized","category_nicename":"uncategorized","category_parent":0}],"tag_info":[{"term_id":160,"name":"Sanktioner","slug":"sanktioner-3","term_group":0,"term_taxonomy_id":160,"taxonomy":"post_tag","description":"","parent":0,"count":22,"filter":"raw"}],"authors":[{"term_id":2449,"user_id":0,"is_guest":1,"slug":"joachim-kattrup","display_name":"Joachim Kattrup","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&r=g","author_category":"","first_name":"","last_name":"","user_url":"","job_title":"","krypteret-kommunikation":"","description":""}],"_links":{"self":[{"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/posts\/54852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/users\/154"}],"replies":[{"embeddable":true,"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/comments?post=54852"}],"version-history":[{"count":3,"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/posts\/54852\/revisions"}],"predecessor-version":[{"id":54858,"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/posts\/54852\/revisions\/54858"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/media\/54853"}],"wp:attachment":[{"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/media?parent=54852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/categories?post=54852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/tags?post=54852"},{"taxonomy":"branche","embeddable":true,"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/branche?post=54852"},{"taxonomy":"del-af-undersogelse","embeddable":true,"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/del-af-undersogelse?post=54852"},{"taxonomy":"genre","embeddable":true,"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/genre?post=54852"},{"taxonomy":"land","embeddable":true,"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/land?post=54852"},{"taxonomy":"serie-fokus","embeddable":true,"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/serie-fokus?post=54852"},{"taxonomy":"sorteres-som","embeddable":true,"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/sorteres-som?post=54852"},{"taxonomy":"styling-design","embeddable":true,"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/styling-design?post=54852"},{"taxonomy":"tema","embeddable":true,"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/tema?post=54852"},{"taxonomy":"virksomhed","embeddable":true,"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/virksomhed?post=54852"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/danwatch.dk\/en\/wp-json\/wp\/v2\/ppma_author?post=54852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}