Russian President Vladimir Putin visits a Novatek offshore construction facility in Murmansk
Trials and tribulations for Russian LNG
Novatek may have completed Arctic LNG 2’s first train on time, but the harder part will be securing buyers and shipping cargoes as Washington seeks to halt Russia’s LNG expansion
The first train of Russia’s flagship Arctic LNG 2 liquefaction project is complete and undergoing commissioning, Moscow reported in December, defying expectations of construction delays. But when the terminal will actually start exporting gas, as well as how much and to which markets, remains greatly in doubt, given the complications caused by international sanctions. In light of the latest round of US measures that target the project directly, experts warn the train’s launch may be delayed until spring, as operator Novatek scrambles to find the means of shipping the LNG to market and secure buyers willing to incur Washington’s wrath. Expanding LNG exports is a strategic priority for Russia—
Also in this section
20 March 2026
Attacks on key oil and LNG assets across the Gulf mean a prolonged supply disruption, with damage to Qatar’s export capacity undermining confidence in the global gas system
20 March 2026
The US may be systemically stripping Russia of key geopolitical allies, but Moscow can reap rewards from the Hormuz crisis, both in the short and long term
20 March 2026
Disruptions to Qatari LNG exports have highlighted the risks of concentrated supply, potentially strengthening the long-term position of US exporters despite limited near-term flexibility
20 March 2026
The extent of the US-Israel war with Iran means there will be no going back to the previous market equilibrium no matter how the conflict ends
