25.12.2023, 10:18
The Russian LNG project has lost foreign investors
Source: OREANDA-NEWS
OREANDA-NEWS Russia's Arctic LNG-2 has lost its foreign shareholders. French TotalEnergies, Chinese CNPC and CNOOC and a consortium of Japanese Mitsui and JOGMEC announced their withdrawal from the project due to US sanctions, Kommersant reports.
The departure of investors means the refusal of shareholders to finance the plant and fulfill contracts for the supply of liquefied natural gas (LNG). According to the share in the project (10 percent each), the companies were entitled to receive up to 2 million tons of fuel per year.
In November, the United States imposed sanctions against Arctic LNG 2. United States Assistant Secretary of State for Energy Jeffrey Pyatt stated the desire of the leadership to "strangle" and stop the operation of a large Russian plant. The restrictions actually prohibit the whole world from buying fuel for this project under the threat of secondary sanctions.
The departure of investors means the refusal of shareholders to finance the plant and fulfill contracts for the supply of liquefied natural gas (LNG). According to the share in the project (10 percent each), the companies were entitled to receive up to 2 million tons of fuel per year.
In November, the United States imposed sanctions against Arctic LNG 2. United States Assistant Secretary of State for Energy Jeffrey Pyatt stated the desire of the leadership to "strangle" and stop the operation of a large Russian plant. The restrictions actually prohibit the whole world from buying fuel for this project under the threat of secondary sanctions.
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