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Gazprom Singapore's LNG portfolio has been restricted - German regulator

Reuters SG
Updated ·1-min read

FRANKFURT, July 19 (Reuters) - A Singapore-based trading arm of Gazprom Germania has suffered restrictions on its portfolio of liquefied natural gas (LNG), the regulator in control of the company said on Tuesday.

Earlier, three sources familiar with the matter said that Gazprom Marketing and Trading Singapore (GMTS) had failed to deliver some LNG cargoes to Indian state firm GAIL Ltd .

"GMTS' LNG portfolio has been restricted as a result of the Russian sanctions," Germany's network regulator, who has taken over control of Gazprom Germania after it was ditched by Gazprom in April, said.

"GMTS is therefore using the mechanisms existing in its contractual agreements to manage the situation with its customers," the regulator added, not providing further details. (Reporting by Christoph Steitz; Editing by Maria Sheahan)