Russian Sanctions on Ex-Gazprom Arm Risk Upending LNG Market (1)

Moscow’s sanctions on a group of gas companies seized from its control by Germany threaten to disrupt the global market for liquefied natural gas and upend a significant supplier.

Russia has blocked dealings with Gazprom Germania GmbH and key trading unit Gazprom Marketing & Trading Ltd., affecting flows of pipeline gas but also LNG. A ban on payments -- and on entry to Russian ports by GM&T-chartered vessels -- casts doubt on the firm’s ability to lift and trade cargoes from projects in the country’s far north and east, threatening the viability of its LNG business.

The unit’s traders ...