The Russian Arctic 2 natural gas station was forced to reduce its production of liquefied natural gas. Due to US sanctions that stand in the way of Russia’s desire to export more liquefied natural gas; Since December 2023 until now, the station has not been able to export any of the natural gas it possesses.

The Russian company Novatek – the largest shareholder in the terminal – faced problems related to the export of liquefied natural gas, which was scheduled to take place in March of this year due to US sanctions. Therefore, the company plans to export its production to other Chinese and Indian companies, but no final agreement has been reached yet.

These US sanctions on Novatek in November 2023 led to the companies contributing to the Arctic station – such as Total Energy and Mitso & Co – to withdraw from the station. This led Russia to reduce its production and export of liquefied natural gas, which amounted to only 32 million tons out of 412 million tons traded globally.