In the light of global geopolitical events, the United States is taking measures to stop Russia in its desire to become a leading exporter of liquefied natural gas (LNG), which can create significant failures in the world energy markets. According to Financial Times, this is determined by sanctions against Arctic LNG 2 LLC, which have actually led to the ban on the sale of Russian LNG to Europe and Asia.
For the first time, the supply of LNG was directly influenced by sanctions, and this can affect the energy balance of the world. Even after Russia's invasion of Ukraine last year, European countries continued to import Russian LNG, but the United States actively avoided disruptions in deliveries, directing their efforts to provide allies with gas.
The United States is not directly aimed at other major Russian LNG projects, such as Yamal LNG and Sakhalin-2, but sanctions against Arctic LNG 2 have opened a wide branched impact on Russia's energy strategy.
Arctic LNG 2 has the potential to become a third significant Russian project for LNG production that supports the Kremlin's ambitions to become a key player in gas export. With full extraction, this project will produce fifteen percent of Russia's planned volume of LNG, which should reach 100 million tonnes annually by 2030. It was planned that Arctic LNG 2 would start delivery in the first quarter of 2024.
The sanctions have also affected the French oil company Totalenergies, which is a shareholder of the project, but France believes that it does not threaten gas supplies to Europe.
The modern context is forcing large energy players to rethink their strategies, and the European Parliament resolution requires more control over the compliance with sanctions and eliminating Russia's circumstance of sanctions. A balanced reaction to these events becomes the key to the stability of the world energy market.
