Russia carries on regardless
Energy majors Rosneft and Novatek are pushing ahead with LNG projects, despite the growing threat of US sanctions
Rosneft is advancing plans to develop its $15bn Far East liquefied natural gas project with ExxonMobil even after new sanctions forced the US company in late February to exit other joint ventures with its Russian partner. Novatek expects to launch the second stage of its $27bn Arctic Yamal LNG plant in September and start commissioning the third production line by the end of year. Meanwhile, energy giant Gazprom is pressing ahead with plans for LNG as a fuel, expanding its distribution networks at home and overseas. Both Rosneft and Novatek are restricted in accessing US markets for long-term financing, with little clarity on whether the current tensions between the Kremlin and the White Hou
Also in this section
29 July 2025
The EU’s Russia sanctions could have far-reaching implications for India’s Vadinar-based refinery
29 July 2025
There is a good strategic case for China to sign a deal for gas supplies via the proposed Power of Siberia 2 pipeline, but Beijing’s concerns over over-dependency on a single supplier and desire to drive down the price make it relatively unlikely that a contract will be finalised this year.
29 July 2025
EU industry and politicians are pushing back against the bloc’s green agenda. Meanwhile, Brussels’ transatlantic trade deal with Washington could consolidate US energy dominance.
25 July 2025
KRG, Iraq’s central government and Turkey are all working to get exports flowing from the key port, but complications remain
