Russia's LNG exporter Novatek is forced to scale back what would have been the biggest Russian export plant, Arctic LNG 2
Russia ’s LNG exporter Novatek is forced to scale back what would have been the biggest Russia n export plant, Arctic LNG 2, as Western sanctions are constraining the company’s access to ice-class LNG tankers, Reuters reported exclusively on Thursday, citing industry sources. Arctic LNG 2 was initially planned to have three gasification trains with a total capacity of 19.8 million metric tons per year of LNG and 1.6 million tons per year of gas condensate output.
Foreign shareholders suspended participation in the Arctic LNG 2 project after the Biden Administration announced new sanctions in November, effectively withdrawing from the financing of the project and for offtake contracts for the new plant. In November, the U.S.
Russia Energy Gas Prices Sanctions U.S.
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