Gydan Peninsula Facility Vital for Russia’s LNG Expansion Faces Sanctions Threat.
Arctic LNG 2’s First Part Now Working Despite Sanctions. (PHOTO: Offshore Energy)
According to Offshore Energy, Deputy Prime Minister Alexander Novak recently shared that the first part of the Arctic LNG 2 project, led by Novatek, has started operating. Even though the project’s operator faced U.S. sanctions in November 2023, Novak remains positive, expecting the first shipments from the project in early 2024.
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Russia’s Big LNG Plan and Arctic LNG 2’s Important Role:
The Arctic LNG 2 facility on the Gydan peninsula is crucial for Russia’s goal to produce way more liquefied natural gas (LNG). They aim to make 100 million tons by the end of the 2020s. The project involves three LNG trains and partnerships with TotalEnergies, CNPC, CNOOC, and Japan Arctic LNG.
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Hurdles in Making Ships and Deals: Challenges for Arctic LNG 2:
Building tankers for the Arctic LNG 2 project faces hurdles. Samsung Heavy Industries from South Korea stopped making parts for 10 out of 15 ships, raising concerns due to economic sanctions. Despite these challenges, Russia is determined to keep the Arctic LNG 2 project going, dealing with issues as it aims to stand strong in the global LNG market.
