Can Novatek lure Aramco to Arctic LNG-2?
Closer Russia-Saudi relations could bring new investment
Russian gas producer Novatek wants to entice Saudi Aramco to become a partner in Arctic LNG-2, after successfully launching production at Yamal, its first liquefied natural gas project, late last year. Novatek, Russia's largest independent natural gas producer, signed a memorandum of cooperation with Aramco in February related to the LNG-2 project on the Kara Sea coast, without disclosing any details. Their home countries of Russia and Saudi Arabia have been instrumental in implementing a global pact on cutting oil production by almost 1.8m barrels a day—cooperation that could provide a favourable backdrop for further collaboration. Analysts are speculating that Aramco is negotiating with No
Also in this section
6 March 2025
A timebomb in copper mining should prompt policymakers to rethink road transport before battery-electric vehicles go down a dangerous dead end
5 March 2025
The oil alliance’s decision to keep to the plan amid tightening economic fundamentals seems to have been lost in the global geopolitical maelstrom, misplaced market speculation and haze of conjecture
5 March 2025
Petronas is making huge efforts to arrest falling oil production and accelerate gas increases to meet rising demand, but political tensions persist
5 March 2025
Plans to boost capacity have seen little progress as the country lags behind other major oil consumers and importers
