According to industry sources cited by Reuters, Russia's Arctic LNG-2 project is set to load its first liquefied natural gas (LNG) tanker for Asia at the end of January.
The shipments come despite U.S. and Western sanctions imposed against the project last year with foreign shareholders suspending their participation.
Initial volumes of LNG shipments are expected to be small. One of the sources said the first cargo's delivery is expected at the end of the month, and the destination for it could be either China or South Korea. The first LNG tankers had been expected to set sail in the first quarter of 2024, according to Russia's Novatek, the operator of the project.
"Only third-tier Chinese companies with very limited exposure (or zero exposure) to the U.S. market will be able to touch this LNG," the source was quoted as saying.
With three processing trains, Arctic LNG-2's capacity is meant to be 19.8 million metric tons per year and 1.6 million tons per year of stable gas condensate.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
