2024-10-01 05:28:24
India has announced that it will not buy Russian LNG from the Arctic, as the Arctic LNG-2 natural gas liquefaction plant in Murmansk has been placed under sanctions. The United States and the E.U. have imposed sanctions on hundreds of Russian companies and individuals involved in the development and transportation of LNG from the Arctic.
“We are not buying sanctioned products,” Indian Oil Minister Pankaj Jain told a news conference. “We will not touch raw materials against which sanctions have been imposed, therefore, India is clearly placed under the international sanctions imposed on Russia after the Ukraine war,” the Indian minister added.
The Arctic LNG 2 project, operated by Russian gas company Novatek, is one of Moscow’s most ambitious LNG production and export projects. Estimated production is up to 20 million tons of LNG per year. This plan could fail as India is one of the largest energy consumers in the world.
Russia is trying to circumvent sanctions with a “shadow” fleet to transport natural gas from the Arctic without official international approval.
With TotalEnergies and Japan writing off their stake in Arctic LNG-2, the project is entirely Russian-Chinese.
naftemporiki.gr