The US sanctions imposed in early November against Arctic LNG-2 may deprive Russia of 3%-4% of the world market of LNG that the project is aiming at, Deputy head of the National Energy Security Fund Alexey Grivach told RIA Novosti.
The capacity of the project that has come under sanctions will amount to 19.8 million tons of LNG per year, and shipments should begin in 2024. The cost of Arctic LNG-2, as of June 2023, estimated at $25 billion.
Now the United States actually forbids the whole world to buy fuel from this project. This decision may also hit Japan, a U.S. ally, given that a third of the country's electricity is generated from natural gas, and the local energy company Mitsui is a part of the consortium with the national corporation for oil, gas and Metals JOGMEC that owns 10% of the shares of Arctic LNG-2.
Earlier, U.S. Assistant Secretary of State for Energy Jeffrey Pyatt announced the country's intention to "strangle" and terminate the operation of Arctic LNG-2. He called such goals critically important, lenta.ru reports.
Alex Shishlo for Rough&Polished
