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LNG: Russia’s Novatek Suspends Work on Murmansk and Ob LNG Amid Sanctions

LNG
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Russia’s Novatek has suspended work on the Murmansk and Ob LNG projects due to the impact of western sanctions, according to Reuters citing Kommersant.

  • Novatek is revising promising export projects and looking for alternative options for monetizing its gas reserves due to the pressure of sanctions, Kommersant said.
  • In June, the EU introduced a ban on providing goods, technology or services for the completion of Russian LNG projects.
  • Construction for the Arctic Murmansk LNG project was scheduled for 2027-2030. The annual loading volume is projected to be 3.4mtpa in 2028, rising to 6.8mtpa in 2029. From 2030, the project expects loadings to hit 13.6mtpa.
  • The Ob LNG plant, adjacent to Yamal LNG, is expected to have a capacity of 6mtpa.
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Russia’s Novatek has suspended work on the Murmansk and Ob LNG projects due to the impact of western sanctions, according to Reuters citing Kommersant.

  • Novatek is revising promising export projects and looking for alternative options for monetizing its gas reserves due to the pressure of sanctions, Kommersant said.
  • In June, the EU introduced a ban on providing goods, technology or services for the completion of Russian LNG projects.
  • Construction for the Arctic Murmansk LNG project was scheduled for 2027-2030. The annual loading volume is projected to be 3.4mtpa in 2028, rising to 6.8mtpa in 2029. From 2030, the project expects loadings to hit 13.6mtpa.
  • The Ob LNG plant, adjacent to Yamal LNG, is expected to have a capacity of 6mtpa.