This paper explores the impact of Western sanctions on Russia’s development of LNG in the Arctic. Sanctions aimed at restricting the purchase and construction of icebreaking LNG tankers appear to be particularly effective in delaying the entry into operation of the flagship Arctic LNG 2 project. Novatek’s Arctic LNG 2 project faces significant delays due to Western sanctions targeting ship construction and procurement. These sanctions have proved to be successful in restricting the delivery of specialised icebreaking LNG carriers, delaying the project’s first shipments initially set for early 2024 and creating uncertainty about its viability. The analysis concludes that a […]
