Thu. May 30th, 2024

Russia’s success in the massive Arctic Circle project “Arctic LNG-2” is causing concern in the corridors of the United States of America, which is trying to block this project.

The Wall Street Journal predicted in a report that the project would bring significant profits to Russia if many countries of the world abandon the use of coal as an energy source.

By imposing sanctions on the project, Washington is trying to block Arctic LNG-2, which is a strategic project for Russia.

The newspaper said that the United States, through the barrage of sanctions, is trying to disrupt the project and obstruct the project’s access to liquefied gas tankers.

In a sign of Washington’s apprehension about the project, the newspaper quoted US Assistant Secretary of State for Energy Affairs Jeffrey Beatt as saying that “the role of the United States is to ensure his death.”

The report pointed out that the global economies abandon coal in favor of blue fuels will lead to a rise in global demand for liquefied natural gas, and this is accompanied by Russia’s intention to increase its production of liquefied natural gas more than threefold.

The authors of the report said that gas production in the project began last year despite US sanctions, which Russian analysts and officials considered a landslide victory for Moscow, which was able to launch the gas container industry with its own energy in its northern basins for the manufacture of warships and submarines.

The Arctic LNG-2 project is Russia’s second LNG mega project after Yamal.

In 2023, the first line of the project was launched, from which Total Energy Group had announced its withdrawal due to Western restrictions.

As part of the project, three technology lines with a capacity of 6.6 million tonnes of liquefied gas per year are planned to be built.

Russian company Novatek has a controlling stake in the project, and Chinese partners “KNOC” and “CNBC” own a stake in the project.

The investment project is worth about $ 20 billion and is located on the Ghidan Peninsula in northern Russia.

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