Novatek Arctic LNG project defies US sanctions
Novatek’s Arctic LNG projects are continuing apace, despite Washington’s so-called “bill from hell”
The development of Novatek's still-expanding Yamal liquefied natural gas project has so far proved to be largely immune from Western sanctions. As Asian demand surges, this is bolstering confidence among partners lining up to provide financing for the company's second LNG project on Russia's Arctic coast. Funded by Chinese banks and part-owned by Total, the Yamal project represents the centrepiece of the Kremlin's efforts to develop LNG exports to rival Qatar and the US. In early August, Novatek launched the project's second train even earlier than planned. By January 2019, the company is planning to commence the third and last train. The facility is expected to produce 16.5m tonnes a yea
Also in this section
14 May 2024
But there is still plenty of appetite for the country’s LNG in the Asia-Pacific region
14 May 2024
The former CEO of Pioneer, Scott Sheffield, has opened a can of worms through his association with OPEC+ and its market management strategy
13 May 2024
OPEC+ has huge amounts of spare capacity amid a tightening market, but nothing can be taken for granted given unclear economic trajectories and geopolitical unrest
13 May 2024
But optimism about island nation checked by competition around African upstream investment and history of false dawns