According to the order, the government of the Russian Federation extended the period for allowing the supply of liquefied natural gas (LNG) from Yamal LNG to the former Gazprom structure SEFE until 2041. This was reported by RIA News.
The government document states that it was decided to change the phrases “until December 31, 2024” to “until December 31, 2040” in the government order.
Before that, Deputy Prime Minister Alexander Novak said that the first shipment of liquefied natural gas from Novatek’s Arctic LNG 2 facility is expected in the first quarter of 2024.
According to him, the first phase of Arctic LNG 2 has actually already started. This is Novatek’s third LNG production project after Yamal LNG and Arctic LNG 1. Novak also noted that Russia will produce approximately 33 million tons of LNG in 2023, which will account for approximately 8% of the world market.
Former Deputy Prime Minister said Increasing the volume of oil transportation along the Northern Sea Route. According to Novak, the volume of oil transported from this section amounted to 1.5 million tons of oil.
Previously reportedDue to sanctions, Russia’s revenues from oil and natural gas decreased by a quarter.
What are you thinking?
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.