Russia’s Arctic LNG-2 reduced production to a minimum due to sanctions

Russia’s largest LNG producer cut processing at its plant in June to the lowest level since February.

The Arctic LNG-2 plant, which is managed by the Russian corporation Novatek, processed a little more than 8 million cubic meters of gas last month. Bloomberg writes about this with reference to its own source.

Gas production at the fields supplying Arctic LNG-2 fell to 34.2 million cubic meters in June, a five-month low. Part of the extracted gas is used for the plant’s own needs.

Also, due to sanctions, Moscow postponed exports from the first line of “Arctic LNG-2” for an indefinite period. The annual production capacity of this line is 6.6 million tons.

The Russian LNG industry became the object of sanctions due to Russia’s unjustified war against Ukraine. “Arctic LNG-2” was a key project of the Kremlin to triple the production of supercooled fuel by 2030.

Thus, USM recently wrote that the Arctic LNG-1 and Arctic LNG-3 projects were subject to new US sanctions.

Prior to that, the United States imposed sanctions against four transportation companies with nearly 300 suppliers associated with Arctic LNG-2.