Russia is adamant that it will press on with its grand scheme of increasing LNG production despite U.S. sanctions on a major project
, Russian Foreign Ministry spokeswoman Maria Zakharova said on Thursday. While the United States moved to squeeze Moscow further by adding another package of sanctions that targeted a company heavily involved in the $25 billion Arctic LNG-2 project, Russia has no intention of relaxing its plans to boost LNG production to 100 million tons per day.
State Department said earlier that the Biden Administration was working with U.S. allies on the Arctic LNG-2 sanctions, with the deadline for winding down transactions relating to the project coming up soon, in January. It was this announcement that likely sparked Russia’s affirmation that it would not be deterred from its LNG ambitions. The project, in which TotalEnergies, CNOOC, CNPC, and others own a stake, is set to kick off production by the end of this year.
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