Arctic LNG 2 is key to Russia’s plans to increase LNG exports and develop the Northern Sea Route, so the project has been the target of several waves of Western sanctions over the past year.
Russian company Novatek’s Arctic LNG2 project cut gas production to almost zero in November amid Western sanctions. Bloomberg writes about it.
The fields feeding the facility, led by PJSC Novatek, produced an average of 0.4 million cubic meters of gas per day in the first ten days of November, according to an informed source. According to Bloomberg calculations, this is a drop of more than 90% compared to the average production for October.
This is also the project’s lowest average daily production since September 2023, based on historical data. Even during pre-commissioning and commissioning work on the first module of Arctic LNG 2 in the fourth quarter of last year, its fields were producing between 2 and 14 million cubic meters per day, according to a source familiar with the data.
Arctic LNG 2’s near-zero production in November followed the shutdown of liquefaction processes at the facility, Bloomberg reported last month.
Arctic LNG 2 is key to Russia’s plans to increase LNG exports and develop the Northern Sea Route, so the project has been the target of several waves of Western sanctions over the past year.
Novatek was previously reported to have suspended operations at its newest Arctic LNG 2 plant due to sanctions and a shortage of LNG tankers.
It is also known that the largest Russian producer of liquefied natural gas (LNG), the Russian company Novatek, has suspended the implementation of its projects for the construction of new plants.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.