Russia's Arctic LNG 2 project halted amid sanctions

Monday, 28 October 2024

Russian oil and gas producer Novatek reportedly has no plans to restart production of its Arctic LNG 2 project until summer having been forced into been into a shutdown earlier this month. This comes as sanctions and limited buyer interest stall the ambitious initiative on the Gydan Peninsula, which was intended to propel Russia’s LNG market share to 20% by 2030. 


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