Sanctions Force Russia’s Novatek to Scale Back Arctic LNG 2 Project

Russia’s LNG exporter Novatek is forced to scale back what would have been the biggest Russian export plant, Arctic LNG 2, as Western sanctions are constraining the company’s access to ice-class LNG tankers, Reuters reported exclusively on Thursday, citing industry sources. Arctic LNG 2 was initially planned to have three gasification trains with a total capacity of 19.8 million metric tons per year of LNG and 1.6 million tons per year of gas condensate output. However, sanctions on the project, levied at the end of last year,…