A Russian project scares the United States to death.. What is “Arctic-2” and what is its importance?

Russia – The United States is trying in various ways to obstruct the implementation of the huge Russian project in the Arctic Circle, “Arctic LNG-2,” while the global economy’s need for gas paints promising prospects for the project.

The Wall Street Journal expected, in a report, that the project would bring huge profits to Russia if many countries in the world abandoned the use of coal as an energy source.

The American newspaper pointed out that Washington, by imposing sanctions on the project, is trying to obstruct “Arctic LNG-2,” which is a strategic project for Russia.

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

In an indication of Washington’s fear of the project, the newspaper quoted US Assistant Secretary of State for Energy Affairs Jeffrey Pyatt, saying, “The role of the United States is to ensure the death of the ‘Arctic LNG-2’ project.”

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

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

The “Arctic LNG-2” project is the second huge project to produce liquefied natural gas by the Russian company “Novatec” after the “Yamal” project.

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

Within the framework of the project, it is planned to build three technological lines, each with a capacity of 6.6 million tons of liquefied gas annually.

The Russian company “Novatec” owns a controlling stake in the project, and the Chinese partners “CNOOC” and “CNPC” own a stake in the project.

The project’s investment value is approximately $20 billion, and it is located on the Gydan Peninsula in northern Russia.

Source: RT + “The Wall Street Journal”

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2024-04-18 03:58:34

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