Steep Discounts Help Russia Move Stranded Arctic LNG ...Middle East

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Steep Discounts Help Russia Move Stranded Arctic LNG
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Russian Novatek, the owner and operator of Arctic LNG and Arctic LNG 2, is offering steep discounts to Chinese buyers of energy commodities to move its gas, Reuters has reported, citing unnamed sources. According to these sources, the Russian company has slashed prices by between 30% and 40% since August for gas produced at the Arctic LNG 2 facility, which is scheduled for a maximum capacity of 19.8 million tons. Prior to the discounts, it had not sold any cargoes, the sources said. Arctic LNG 2 began liquefying gas in late 2023, which was the…

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