Foreign firms freeze work on Russia’s Arctic gas project – media ...News

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Foreign firms freeze work on Russia’s Arctic gas project – media
The move reportedly follows the latest US sanctions banning countries from buying LNG produced by the plant Foreign shareholders in Russia’s new liquefied natural gas (LNG) plant, Arctic LNG 2, have halted participation in the project amid US sanctions, Kommersant business daily reported on Monday, citing sources within the Russian government. According to the report, French TotalEnergies, Chinese CNOOC and China National Petroleum Corp (CNPC), and a consortium of Japanese Mitsui and JOGMEC declared force majeure on their participation in the project, in which they each own a 10% stake. This effectively means that

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