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Russia's Arctic LNG 2 Project May Be Scaled Back

LNG

Russia’s Novatek is being forced to scale back its Arctic LNG 2 project because Western sanctions are limiting its access to ice-class tankers according to Reuters sources.

  • The project had been due to become Russia's largest with eventual output of 19.8 million metric tons per year of LNG and 1.6 million tons per year of stable gas condensate from three trains.
  • Production at the first train started in December but the lack of ice-class tankers has delayed it supplying the first cargo.
  • Trains 2 and 3 are due to start operations in 2024 and 2026 respectively.
  • The third train could be used instead at the larger upcoming Murmansk LNG plant announced by Novatek last June, with the advantage of access to an ice-free port.
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