Chinese companies are asking them to be released from sanctions on the RF Project “Arctic LNG-2”

Chinese state-owned companies are asking the United States to release them from sanctions on the project of the Russian PPG “Arctic LNG-2”.

CNPC and CNOOC government oil companies have asked the US Government to release the new Russian RFG export plant from sanctions, Reuters reports.

CNOOC LTD and China National Petroleum Corp (CNPC) have 10% of the shares in the Arctic LNG-2 project. The project is controlled by Novatek, the largest Russian LNG manufacturer, which owns 60% of the plant.

The US Department of Control of Foreign Assets (OAC) at the US Department of Finance has not yet been answered for the request of companies.

Last month, the United States imposed new sanctions against Russia through the war in Ukraine, including restrictions on Arctic LNG-2.

Yes, gas trucks can fall under US sanctions if they transport fuel from Arctic LNG-2. CNOOC and CNPC also buy CPGs in the United States and do not want to jeopardize their deliveries from US projects.

Arctic LNG-2 is a key element of Russia’s desire to increase its share in the world market by 2030 from about 8% to the fifth. The first gas pipelines are expected to go on flights in the first quarter of next year.