The winner in the shake-up appears to be refiners in Asia, who are seeing shipments from Canada surge to the highest in more than a year.

Ship-to-ship transfers are a routine part of oil trading and those that are taking place are doing so in full view of satellite tracking systems.

The movements suggest that, despite the impending collapse in Russian cargo deliveries to the EU, the U.S. may have an even more acute supply situation.

The European Union will have to replace about 600,000 barrels a day of diesel imports, and Russia will need to find new buyers for those supplies.

While Europe has so far made it through an unprecedented energy crisis that has fueled inflation, much of the winter remains.

Berlin fast-tracked its first LNG import terminals by renting five floating storage and re-gasification units.

Major grid upgrades are expensive, and utilities are under pressure to get the best “bang for the buck” for their investors and customers — scenarios that are not, normally, considered to be mutually compatible.

At least 12 of the 13 Protection and Indemnity (P&I) clubs — which cover 90% of the world’s ocean-going ships, including those from the U.K. and the U.S. — said they would no longer be able to provide coverage.

Moves by big firms such as Exxon and Shell are increasing the pressure on owners to choose between serving Russian and non-Russian interests.

The compromise persuaded Germany, the EU’s biggest gas consumer but a sceptic over price caps, to back the plans.