Russia's Arctic LNG 2, a major new liquefied natural gas (LNG) project, began production in December but faced significant setbacks due to US sanctions, resulting in the suspension of gas liquefaction. The plant had to sharply reduce its gas output in February after running out of storage space, with no exports having commenced as initially planned in the first quarter. The sanctions have not only delayed shipments but also caused a shortage of gas tankers, further complicating Russia's plan to rapidly expand its LNG exports. This development poses a risk to the Kremlin's ambition to roughly triple LNG exports by 2030, as articulated by Novatek, Russia's largest LNG producer. The situation underscores the effectiveness of sanctions.
Exclusive: Russia's Arctic LNG 2 suspends gas liquefaction amid sanctions, lack of tankers, sources say https://t.co/y53labRNo7 https://t.co/pSYlBTKW0Z
#Russia's Arctic LNG 2 suspends gas liquefaction amid sanctions, lack of tankers, sources say https://t.co/KgWYO47wE8
In #Russia, Novatek, Russia’s largest producer of liquefied natural gas (LNG), has suspended production at its Arctic LNG 2 project due to #sanctions and a shortage of gas tankers. Sanctions work. https://t.co/z6kzAqCriW
#Russia: LNG Expansion Plan at Risk Due as US Sanctions Delay Exports Arctic LNG 2 plant’s gas production fell sharply in February The Kremlin wants to roughly triple LNG exports by 2030 https://t.co/Emb7nA8puu
Russia’s plan to rapidly expand liquefied natural gas exports is stalling due to US sanctions that are delaying shipments from a major new project https://t.co/oX6NQwUJ9W
Russia's new LNG plant cuts production as US sanctions delay exports 🇷🇺🥊🇺🇸 🚢 Arctic LNG 2 began production in Dec., but sharply reduced gas output in Feb. after storage ran out 👉 While shipments were supposed to start in 1Q, nothing has been exported https://t.co/q6TnSehSl4 https://t.co/PNJMMK0bVM