Novatek has problems due to sanctions

Due to the sanctions, Novatek faced problems in launching a key project for Russia – Arctic LNG 2.

As a result of the restrictions, the company is reviewing its plans and directing efforts to another project – Murmansk LNG, as it is faced with a shortage of Arctic-class gas carriers. It is also possible to reduce the Arctic LNG 2 production line from 3 to 2.

Plans to launch the first batch of LNG at Arctic LNG 2 were promised in December, but by March, accurate data on supplies had not been received. Russian Prime Minister of Energy Novak only clarified that the first line of Arctic LNG 2 has been launched.

The government is doing everything possible to save Novatek. By 2030, it is planned to allocate 24 billion rubles for the development of the gas industry, and the government will take over half of this amount. 

But it's all about the future. But this year, the task is to provide 80 million tons of transit along the Northern Sea Route, but without Arctic LNG 2, this becomes extremely problematic.