The start of LNG shipments from the Arctic LNG 2 project is slated for February of this year, as announced by Russian Deputy Prime Minister Alexander Novak, who referenced information from NOVATEK.

Earlier, a force majeure situation was declared at the Arctic LNG 2 project by one of its shareholders, the French company TotalEnergies. This action was prompted by the imposition of sanctions from the US against the Arctic project.

NOVATEK, the Russian company, holds the majority stake of 60% in the LNG platform situated on the Russian Arctic shelf.

Despite the sanctions imposed by Western nations, the project's development remains robust, buoyed by the growing interest of European exporters in the Northern Sea Route. This route offers a shorter path from Northern Europe to the Asia-Pacific region, particularly significant amidst challenges such as attacks on merchant ships in the Red Sea by the Houthis. These attacks have significantly disrupted the flow of goods through the Suez Canal between Europe and Asia.

#russia