Novatek Arctic LNG project defies US sanctions

Novatek’s Arctic LNG projects are continuing apace, despite Washington’s so-called “bill from hell”

The development of Novatek's still-expanding Yamal liquefied natural gas project has so far proved to be largely immune from Western sanctions. As Asian demand surges, this is bolstering confidence among partners lining up to provide financing for the company's second LNG project on Russia's Arctic coast. Funded by Chinese banks and part-owned by Total, the Yamal project represents the centrepiece of the Kremlin's efforts to develop LNG exports to rival Qatar and the US. In early August, Novatek launched the project's second train even earlier than planned. By January 2019, the company is planning to commence the third and last train. The facility is expected to produce 16.5m tonnes a yea