Russia has suspended Novatek’s gas projects due to sanctions

Due to sanctions, Russia has suspended the operation of two Novatek gas megaprojects.

The company has frozen plans to build new gas liquefaction plants,  LIGA reports with reference to rosZMI.

Novatek, which is the largest LNG producer in Russia, was forced to freeze two gas megaprojects due to sanctions.

This applies to the Murmansk LNG project, which was to become the largest gas liquefaction plant in Russia, as well as the Obsky LNG project in the port of Sabetta.

Currently, no active work is being conducted on any of these projects. It is not known when Novatek will return to their development. The company is now focused on completing the Arctic LNG-2 project and launching shipments from it.

Now, due to the sanctions, Novatek can also prioritize the construction of the Ob gas chemical complex. There, the company plans to produce ammonia and urea, and export them through the Arctic Ocean to the countries of the Asia-Pacific region.

In order to export urea, it is necessary to build ice-class ships, but it is cheaper than building gas carriers.

USM previously reported that Russia is creating a fleet to export gas to the Arctic LNG-2 project