The US "deals a heavy blow", a series of shareholders say goodbye to Russia's Arctic LNG 2 project, China speaks out

China's participation in Russia's Arctic 2 liquefied natural gas (LNG) project is not subject to any third-party interference or restrictions, the Chinese Foreign Ministry said on December 26.

A concrete structure of the Arctic LNG 2 joint venture at the LNG Construction Center near the settlement of Belokamenka, Murmansk region, Russia. (Source: Reuters)

China's major state-owned oil companies CNOOC Ltd and CNPC are said to have suspended their participation in the Arctic LNG 2 project on December 25.

The move came after the major shareholder, Russia's Novatek, announced it was suspending its contractual obligations, citing force majeure due to sanctions imposed by the US.

On the same day, Sankei newspaper quoted several sources as saying that Japanese company Mitsui and Co. had decided to withdraw its employees from the above project.

Meanwhile, France's TotalEnergies and Japan's Mitsui and JOGMEC groups also announced they would stop participating in the project, citing force majeure.

Previously, on December 21, the US Treasury Department 's Office of Foreign Assets Control (OFAC) imposed sanctions on the Russian gas company, banning third countries in Asia and Europe from purchasing LNG produced by the plant when it begins operations in 2024.

Source: https://baoquocte.vn/my-giang-don-manh-loat-co-dong-gia-tu-du-an-lng-2-bac-cuc-cua-nga-trung-quoc-len-tieng-255267.html